India Clean Energy Holdings (the Company) is a wholly-owned subsidiary of ReNew Energy Global PLC and has been established as a special purpose vehicle to make specific investments in USD-denominated notes (the Onshore Notes) issued by ReNew Power Private Limited (the Onshore Issuer) in the form of external commercial borrowings issued to finance operations of renewable energy sector projects in India.

The Company will use a portion of the proceeds for payment of expenses related to its offering and the balance of the Offshore Notes will be used to subscribe to the Onshore Notes issued by the Onshore Issuer that own and operate renewable energy projects (Eligible Green Projects). The Eligible Green Projects will comprise the following:

  • Wind Energy: Development, construction and operation of generation facilities where 100 per cent. of the electricity is derived from wind energy resources.
  • Solar Energy: Development, construction and operation of generation facilities where 100 per cent. of the electricity is derived from solar energy resources.
  • Renewable Transmission Infrastructure: Wholly dedicated transmission infrastructure for eligible solar and wind generation facilities.

The Offshore Notes are certified green bonds by the Climate Bond Initiative and were listed on the Singapore Exchange Securities Trading Limited on 19 January 2022.

Axis Bank Limited, Singapore Branch, Barclays Bank PLC, Credit Suisse (Hong Kong) Limited, Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc and Standard Chartered Bank were the joint lead managers to the issue.  HSBC Bank USA, National Association has acted as note trustee, security trustee, principal paying agent, transfer agent and registrar.

The Appleby Mauritius team was led by Group Managing Partner Malcolm Moller and Senior Associate Farzanah Nawool supported by Associate Suhaylah Juman.

Share
Twitter LinkedIn Email Save as PDF
More Deals
3 Feb 2022 | Deals

Appleby Assists Leading Power and Energy Group Zola on USD 90 Million Funding

Leading offshore law firm Appleby has assisted the leading power and energy group ZOLA on its US$ 90...

Contributors: Melissa Virahsawmy
7 Sep 2021 | Deals

Appleby Mauritius advises IFC in connection with the financing package provided to Aspen Finance Proprietary Limited

Appleby Mauritius advises IFC in this cross border transaction in connection with the financing pack...

Contributors: Manisha Lallah
7 Apr 2021 | Deals

Clean Renewable Power Pte raises US$363 million through senior secured notes

Appleby Mauritius advised in a structured finance deal of US$363 million senior secured notes issued...

31 Mar 2021 | Deals

Cliffton Limited raises US$450 Million through Senior Secured Notes

Appleby Mauritius advised in a structured finance deal of US$450 million 6.25 % senior secured notes...

Contributors: Karishma Beegoo
9 Mar 2021 | Deals

Appleby advises in issuance of USD 500,000,000 3.975% subordinated perpetual securities by Mauritius-based Network i2i Limited

Appleby advises in issuance of USD 500,000,000 3.975% subordinated perpetual securities by Mauritius...

Contributors: Farzanah Nawool
25 Feb 2021 | Deals

India toll roads raises USD 300 million through 5.5% senior secured notes

Appleby Mauritius advised IRB Infrastructure Developers Limited, formerly IRB Infrastructure Develop...

Contributors: Karishma Beegoo
10 Feb 2021 | Deals

MakeMyTrip Limited raises USD 200 million through a zero percent interest coupon bond

Appleby advises in a structured deal of USD 200 million 0.00 % convertible senior notes due 2028 (No...

Contributors: Karishma Beegoo
12 Nov 2020 | Deals

Appleby advises in a structured deal of USD 325 million

Appleby advises in a structured deal of USD 325 million 5.375 % secured notes due 2024.

10 Mar 2020 | Deals

Appleby Mauritius advises on the issue of USD 400 million Perpetual Subordinated Capital Securities to be listed on the Singapore Exchange Securities Trading Limited

Leading offshore law firm, Appleby, has acted as Mauritius legal counsel to UPL Corporation Limited ...

Contributors: Manisha Lallah
14 Nov 2019 | Deals

Appleby Mauritius advises and secures the legitimate interests of the founder of the Vuna Group before the Supreme Court of Mauritius

On the 12th November 2019, the Judge in Chambers of the Supreme Court of Mauritius handed down a fir...