State-owned transportation firm Indian Railways is thinking of selling green bonds in order to support its renewable energy projects, the Press Trust of India (PTI) said Saturday, citing a senior official.
The company is currently working on sorting out the details for the placement, according to the report. Specific information is yet to be announced.
Indian Railways intends to install both photovoltaic (PV) and wind farms, as well as to construct waste-to-energy plants. It will also allocate part of the proceeds for certain energy efficiency schemes.
The move is in line with the company’s strategy to reduce its dependence on fossil fuels along with its carbon dioxide (CO2) emissions. Apart from using PV arrays to run its buildings and illuminate its coaches, Indian Railways also intends to use solar power for traction purposes, the unnamed official was quoted as saying.
At present, Indian Railways is finalising its 585-MW tender, according to the PTI. Some 44 companies took part in the competitive bidding process.