IFC, a member of the World Bank Group, has invested Rs 6.67 billion ($103 million) in L&T Infrastructure Finance Company Ltd. by subscribing to the first official Green Bonds in India. This is in line with IFC’s strategy to support renewable energy infrastructure in the country and also develop the capital markets.
L&T Infrastructure Finance Company Ltd, a wholly-owned subsidiary of L&T Finance Holdings Ltd., will use this money to give loans to solar power projects. The Company has been increasing its focus on renewable energy, which has come to comprise 37 percent of its total portfolio of
Rs 22,774 crore (nearly $3.51 billion).