Azure Power Global Limited has issued a notice to prepay green bonds maturing in December 2024.
The bonds (RG II) were issued in 2019 for USD350 million and listed in Singapore, are backed by ten projects commissioned between 2016 and 2019. The refinancing, valued at approximately Rs 24 billion, is structured as a term loan underwritten solely by REC Limited. The refinanced projects, with a total capacity of 615 MW, are located across Punjab, Maharashtra, Uttar Pradesh, Andhra Pradesh, Gujarat, Karnataka, and Rajasthan.
