RBI will issue SGrBs worth INR 160 billion to mobilize resources for green infrastructure; NTPC to supply 400 MW RTC renewable energy to HPCL under MoU; Rajasthan eases rules for captive solar plants by industries.
RBI announces Sovereign Green Bonds: The Reserve Bank of India (RBI) plans to issue Sovereign Green Bonds (SGrBs) to mobilize resources for green infrastructure in the country after the Indian government announced the decision to raise INR 160 billion ($1.94 billion) in the Union Budget 2022-23. Proceeds will be deployed in public sector projects that target to reduce the country’s carbon intensity. The bank has released an indicative calendar to issue the same for the current fiscal year 2022-23. On January 25, 2023 and then on February 9, 2023 it will issue SGrBs for INR 80 billion ($972 million) each, to be allocated as INR 40 billion ($486 million) for 5- and 10-year security under both auctions. These will be issued through uniform price auction and will be eligible to be traded in the secondary market, it announced.
NTPC’s RE deal with HPCL: NTPC Green Energy Ltd (NGEL) has signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Ltd (HPCL) to supply the latter with 400 MW round-the-clock ((RTC) renewable energy to help meet its power requirements. The duo will also explore business opportunities in renewable energy space.
Rajasthan eases captive solar rules for industries: The Department of Environment & Climate Change under the State Government of Rajasthan has waived off the requirement for industries to obtain additional consent for any captive solar PV project. Through this, it aims to promote and encourage the adoption of captive solar power plants among industries operating in the state. In an order released, the Rajasthan State Pollution Control Board (RSPCB) stated, capital costs of such a project will be excluded from the overall cost of their capital investment for the purpose of calculating consent fee, provided the industry submits evidence of consuming power generated from the solar power plant.