Azure Power Global Limited has announced plans to prepay its USD 350 million green bonds, originally issued in 2019 and set to mature in December 2024. These bonds, listed in Singapore and backed by ten solar projects commissioned between 2016 and 2019, are being refinanced through a term loan valued at approximately Rs 24 billion, underwritten solely by REC Limited.

The projects covered under this refinancing have a combined capacity of 615 MW and are located across Punjab, Maharashtra, Uttar Pradesh, Andhra Pradesh, Gujarat, Karnataka, and Rajasthan.

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