India's $28 Billion of Green Bonds Are Under the Spotlight
India's green bond issuers have preferred rupee denominated unlabeled issues. The majority of bonds have fixed coupon rates which can be serviced from the steady cash flow of renewable energy projects. Bond tenors vary from six months to over 30 years, with five- to 10-year tenor being most common. The privately-owned power producers have led the way both in terms of the amounts raised and in offering issues with call options that allow for early redemption.