Stories
CleanMax Enviro Energy Secures ‒2,500 Crore via Green Bonds for Renewable Projects
- •Clean Max Enviro Energy raised ‒2,500 crore through green debt securities via private placement.
- •The non-convertible debenture (NCD) issuance comprised five series with maturities from 2 to 10 years and coupon rates between 8.25% and 8.76%.
- •The issuance received an AA/stable rating from Crisil and attracted wide participation from international and domestic investors.
- •Bonds are issued under CleanMax’s green bond framework, with proceeds allocated for large-scale renewable energy projects.
- •Key investors include IFC, NABFID, India Infrastructure Finance Company Limited, Aditya Birla Capital, IDFC First Bank, Nippon India Mutual Fund, and select corporates.
Key Questions Answered
Clean Max Enviro Energy raised Rs 2,500 crore through the issuance of green debt securities on a private placement basis. The non-convertible debenture issuance was structured across five series with maturities ranging from 2 to 10 years and coupon rates between 8.25 per cent and 8.76 per cent under a fixed rate structure.
The issue was anchored by a marquee group of international and domestic institutional investors, including the International Finance Corporation, the National Bank for Financing Infrastructure and Development, and India Infrastructure Finance Company Limited. Additional participation came from Aditya Birla Capital, IDFC First Bank, Nippon India Mutual Fund, and select corporates.
The issue followed an AA/stable rating assigned by Crisil in September to CleanMax’s corporate credit and its NCD programme. The underlying green bond framework was independently reviewed by CareEdge Advisory to ensure alignment with SEBI regulations and the ICMA Green Bond Principles, 2025.
