WtE producer SAEL raises Rs 1,325 cr from bond issue

Waste-to-energy producer SAEL has raised INR 1,325 crore ($177m) by issuing AA-rated bonds to institutional investors such as Tata Cleantech Capital, Kotak Infra Debt, Aseem Infrastructure Finance, and India Infradebt. The bonds, which have a 10-year tenure, will be used to finance the company’s plan to construct 3.5 GW of green energy capacity over the next five years, including 100 MW of new biomass and 600 MW of new solar capacity each year. SAEL already has more than 600 MW of existing power generation capacity from solar and biomass energy plants. Barclays acted as the sole arranger and structuring agent for the bond issue, reports The Economic Times.