Solar, wind, green irrigation pumps and metro rail projects worth Rs 19,858 crore would be beneficiaries of India’s maiden Sovereign Green Fund. The fund is expected to be built on the proceeds of India’s maiden sovereign green bonds, which was announced in the last Budget.
Sovereign Green Bonds were the ‘green highlight’ of the last Budget. In order to tap investor interest in the growing green energy space, the finance minister last year had announced the first ever issuance of sovereign Green Bonds, mobilising resources for green infrastructure.
And now, a year later, the RBI has issued an auction of two green bonds with tenures of 5 and 10 years, worth Rs 4,000 crore each. The proceeds from the issuance