CLP Wind plants new marker with green bond

CLP Wind Farms, the Indian subsidiary of Hong Kong-listed CLP Holdings, has raised Rp6 billion $90.5 million from a green bond offering, helping the group reduce its cost of funding and planting a new marker for issuance in Asia.

So far there has been relatively little green bond issuance from Asia compared to Europe, where the market originated in 2007 and issuers follow a set of voluntary guidelines known as the Green Bond Principles established by market players.

But that all looks set to change with China on the verge of publishing its own comprehensive green bond framework and India-related issuers sprouting up with a total...