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					</table><p>India-focused renewable energy platform <a href="https://www.continuumenergy.in/" target="_blank" rel="noopener">Continuum Green Energy</a> has raised $350 million from two marquee global institutional investors to finance the expansion of its clean energy projects.</p>
<p>Continuum raised the debt by issuing senior secured floating rate notes. The fund-raising round provided the investors with an option to issue an additional $50 million on fulfilling certain conditions.</p>
<p>Continuum Green Energy is majority-owned by a global infrastructure fund managed by <a href="https://www.morganstanley.com/im/en-us/institutional-investor/about-us/investment-teams/real-assets/private-infrastructure-team.html" target="_blank" rel="noopener">Morgan Stanley Infrastructure Partners</a>. Continuum is an India-focused renewable platform with most of its assets focused on the commercial &amp; industrial (C&amp;I) consumers, with 1.3 GW of operating and near-operational capacity and an additional 1.2 GW of projects nearing construction.</p>
<p>Founder &amp; CEO of Continuum Green Energy Arvind Bansal said, &#8220;Raising of funds from marquee investors reaffirms the faith of investors in Continuum&#8217;s business model and the company&#8217;s focus on building high-quality projects. With these funds, the company aims to expand its portfolio to 2.5 GW, mostly as wind and solar hybrid projects, servicing Commercial &amp; Industrial (C&amp;I) consumers, enabling them to meet their sustainability goals economically.&#8221;</p>
<p>Managing Director at Morgan Stanley Infrastructure Partners Raja Parthasarathy said, &#8220;We are happy that Continuum receives this investment and are excited for the growth that the company may realize while deepening their franchise with C&amp;I customers and wind-solar hybrid offerings. This marks another milestone in our 10-year fruitful partnership with Continuum.&#8221;</p>
<p>Last February, the International Finance Corporation, the World Bank Group&#8217;s financial arm,  extended its support to Continuum Green Energy by subscribing to 10% of the company&#8217;s first green bond, which was listed on the Singapore stock exchange. The offering raised nearly $561 million and was meant to refinance its debt.</p>
<p>In June, General Electric and Continuum Green Energy <a href="https://mercomindia.com/ge-acquires-stake-in-continuum-onshore-wind-project/" target="_blank" rel="noopener">announced</a> the financial close of GE Energy Financial Services&#8217; acquisition of a 49% stake in Continuum&#8217;s 148.5 MW Morjar onshore wind project in Gujarat.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"> <img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Continuum Raises $350 Million Debt for Expansion of Clean Energy Projects

<p>The International Finance Corporation (<a href="https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home" target="_blank" rel="noopener">IFC</a>), the World Bank Group&#8217;s financial arm, has extended its support to <a href="https://www.continuumenergy.in/" target="_blank" rel="noopener">Continuum Green Energy</a> by subscribing to 10% of the company&#8217;s first green bond, which was listed on the Singapore stock exchange on February 10.</p>
<p>The offering raised nearly $561 million (~₹40.79 billion) and was oversubscribed. The company will use the proceeds from the bond&#8217;s issuance to refinance its existing debts, IFC said.</p>
<p>Continuum, one of the largest renewable energy providers to the commercial and industrial sectors in the country, has nearly 2 GW of wind and solar projects.</p>
<p>Arvind Bansal, CEO of Continuum, said, &#8220;We are delighted to continue our long-standing partnership with IFC through our first green bond. As a pioneer in the green bond market, IFC&#8217;s knowledge and successful track record as an issuer, investor, and adviser will continue to help stand our company on solid ground and support India in a resilient recovery from the pandemic. This offering enables us to diversify our sources of funding further, and we look forward to strengthening our partnership with global investors.&#8221;</p>
<p>IFC is one of the largest financiers of clean technology projects. Since 2005 it has invested $22.2 billion (~₹1.61 trillion) in long-term financing and has raised an additional $15.7 billion (~₹1.14 trillion) from other investors for clean energy and climate-related projects.</p>
<p>Isabel Chatterton, regional industry director for natural resources and infrastructure, Asia Pacific at IFC, said, &#8220;IFC&#8217;s investment will help Continuum maintain sustainable power generation across India and position it to deliver projects under development as the country emerges from the pandemic. It will also help support India in its ambitions to reduce greenhouse gas emissions, at a time when private capital is most needed to fund infrastructure projects and support green, resilient economic recovery.&#8221;</p>
<p>According to a report by the Climate Bonds Initiative, global green bond issuance <a href="https://mercomindia.com/green-bond-issuance-reached-record-high/" target="_blank" rel="noopener">reached</a> a record high of $269.5 billion (~₹19.59 trillion) in 2020, a 1.12% increase compared to $266.5 billion (~₹19.37 trillion) in 2019, due to a late surge in the second half of 2020.</p>
<p>In October last year, ReNew Power, an Indian independent power producer, <a href="https://mercomindia.com/renew-power-raises-green-bonds/" target="_blank" rel="noopener">raised</a> around $325 million (~₹23.63 billion) through overseas green bonds. Earlier, CLP Wind Farms (India) <a href="https://mercomindia.com/clp-wind-farms-raises/" target="_blank" rel="noopener">raised</a> ₹2.96 billion (~$40.51 million) from its green bonds.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a>
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IFC Subscribes to $56 Million of Continuum’s Green Bond Offering in Singapore

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