Adani Green and Tata Power are seeking a capital raise to finance their new projects by issuing ESG bonds. Adani Green is planning to issue $1bn via green bonds by December while Tata Power is planning a $340mn issuance via sustainability linked loans, as per the Business Standard. Other notable energy companies who are planning on investing heavily in renewable energy projects like JSW Group and Reliance Industries are also planning a shift towards issuing ESG bonds. According to Business Standard’s sources, “the demand for green bonds and sustainability-linked funding will rise substantially” as Indian companies continue to make the switch from fossil fuels to climate-conscious projects.

Adani Green’s 4.375% 2024s are trading at 84.97, up by 0.41 points to yield 13.57%.

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