MNRE to raise more than Rs 135 billion via green bonds in FY25
POWER & RENEWABLE ENERGY

MNRE to raise more than Rs 135 billion via green bonds in FY25

The Ministry of New & Renewable Energy (MNRE) intends to raise more than Rs 135 billion through green bonds for various renewable energy projects in the current financial year, ending March 2025. This effort is part of a broader initiative, with various ministries and departments planning to raise a total of Rs 320.6 billion via Sovereign Green Bonds (SGrBs). According to the union budget for FY25, MNRE aims to secure Rs 135 billion. The budget estimates are 80% higher than the previous year?s estimate of Rs 75.07 billion and more than double the revised estimate of Rs 61.16 billion from the last fiscal year.

Allocation Breakdown: - Solar Energy: Rs 100 billion - PM KUSUM (Rural Solar Scheme): Rs 19.96 billion - Wind Energy: Rs 9.30 billion - National Green Hydrogen Mission: Rs 6 billion

In FY23, the government raised Rs 160 billion through SGrBs, with actual expenditure under eligible schemes reaching Rs 169.23 billion. The excess Rs 9.23 billion was covered by general government revenues. For FY24, the government plans to raise Rs 200 billion through SGrBs, with any additional expenditure to be financed through general revenues.

Overall Fundraising Plans: - Railways: Rs 150 billion, primarily for energy-efficient electric locos (Rs 120 billion), Dum Dum Airport to New Garia via Rajarhat metro construction (Rs 17.91 billion), and Joka to Binoy Badal Dinesh Bagh via Majerhat metro construction (Rs 12.08 billion). - Ministry of Housing and Urban Affairs (MoHUA): Rs 33.64 billion for equity investments in metro projects. - Ministry of Environment, Forests, and Climate Change (MoEFCC): Rs 1.7 billion for the National Mission for a Green India. The actual amount to be raised through SGrBs in FY25 will be determined and notified separately. (Source: BusinessLine)

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Ministry of New & Renewable Energy (MNRE) intends to raise more than Rs 135 billion through green bonds for various renewable energy projects in the current financial year, ending March 2025. This effort is part of a broader initiative, with various ministries and departments planning to raise a total of Rs 320.6 billion via Sovereign Green Bonds (SGrBs). According to the union budget for FY25, MNRE aims to secure Rs 135 billion. The budget estimates are 80% higher than the previous year?s estimate of Rs 75.07 billion and more than double the revised estimate of Rs 61.16 billion from the last fiscal year. Allocation Breakdown: - Solar Energy: Rs 100 billion - PM KUSUM (Rural Solar Scheme): Rs 19.96 billion - Wind Energy: Rs 9.30 billion - National Green Hydrogen Mission: Rs 6 billion In FY23, the government raised Rs 160 billion through SGrBs, with actual expenditure under eligible schemes reaching Rs 169.23 billion. The excess Rs 9.23 billion was covered by general government revenues. For FY24, the government plans to raise Rs 200 billion through SGrBs, with any additional expenditure to be financed through general revenues. Overall Fundraising Plans: - Railways: Rs 150 billion, primarily for energy-efficient electric locos (Rs 120 billion), Dum Dum Airport to New Garia via Rajarhat metro construction (Rs 17.91 billion), and Joka to Binoy Badal Dinesh Bagh via Majerhat metro construction (Rs 12.08 billion). - Ministry of Housing and Urban Affairs (MoHUA): Rs 33.64 billion for equity investments in metro projects. - Ministry of Environment, Forests, and Climate Change (MoEFCC): Rs 1.7 billion for the National Mission for a Green India. The actual amount to be raised through SGrBs in FY25 will be determined and notified separately. (Source: BusinessLine)

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000