Deutsche Bank helps Continuum Green Energy expand renewable energy capacity
Deutsche Bank acted as Sole Private Placement Agent, helping Continuum Green Energy Ltd, Singapore raise USD 350 million from international investors. The funds raised will be utilised for refinancing existing debt and to support the company’s expansion plans for renewable energy production through its wind and solar hybrid projects. The company expects to almost double the size of their portfolio to 2.5 gigawatts, from the current 1.3 gigawatts. They have the option of raising an additional USD 50mn on fulfilling certain conditions.
Engaging with marquee institutional investors, the bankers priced the issuance despite unprecedented market volatility during the last few months. “The international debt capital markets continue to remain volatile on account of rising interest rates and geopolitical tensions,” said Sameer Gupta, Head India Debt Capital Markets. “Adverse market conditions notwithstanding, capital remains available for strong credit and the right structures.”
In 2021, Deutsche Bank acted as Sole Left Lead on Continuum Green Energy’s debut bond and also executed the world’s first green hedge for them. The proceeds of the green bond were used for renewable energy projects in India.
Continuum Energy is a leading renewable energy company in India, with majority of its assets focused on commercial and industrial consumers.