India's NTPC listed second round of masala bonds on London Stock Exchange

Proceeds will be used to fund clean energy projects.

The National Thermal Power Corporation (NTPC), has listed a second round of masala bonds on the London Stock Exchange (LSE), according to Mercom Capital Group. The company will use the proceeds to fund clean energy projects in accordance with RBI guidelines and regulations. With this listing, NTPC expects to tap into investors with a focus on environment and climate change to fund its goal of installing about 2,500 MW of renewable projects every year.

Mercom previously reported, the listing of Green Masala Bonds worth Rs.20 billion (~$305 million) by the NTPC, which also listed bonds worth Rs.20 billion (~$305 million) on the London Stock Exchange in August of 2016. "The NTPC is targeting 32 GW of installed renewable energy capacity by 2032 and it is the first-seller of rupee-denominated overseas bonds," Mercom Capital said.