India’s JSW Limited will raise $500 million through floatation of ‘green bonds’ in overseas markets to fund projects aimed to replace thermal energy with renewable energy and bring down carbon emission by 40 percent by 2030, a company official said on Monday, July 26.
He said part of the funds raised will be invested in JSW Energy, a subsidiary of JSW Limited, which in turn will set up 1 gigawatt (GW) of renewable solar and wind energy generation projects at locations of JSW Limited’s steel mills.
This will fall in line with government directive to all companies that use thermal energy to source at least 20 percent of their total energy requirements from renewables, the official said.