Clifford Chance has advised a group of global banks acting as underwriters in Greenko Wind Projects (Mauritius) Ltd’s latest bond issuance—an impressive $1 billion deal with a 7.25% yield, maturing in 2028.
Greenko Wind Projects is part of Greenko Energy Holdings, one of India’s frontrunners in clean energy and a key player in the country’s ambitious push toward renewables.
The capital raised from the offering will be used to refinance debt linked to the Pinnapuram pumped storage project in Andhra Pradesh — a large-scale infrastructure project that combines solar, wind, and hydro power into one integrated system.
Alan Yeung, who led the transaction from Clifford Chance’s Hong Kong office, shared his perspective on the deal’s broader significance.
“It’s exciting to see this level of global investor confidence in India’s renewable sector,” he said.
“Greenko’s offering reflects both the strong fundamentals of the company and the growing appetite for sustainable infrastructure investments in emerging markets. It’s a win not just for Greenko, but for the wider energy transition.”
Mr. Yeung, a seasoned partner known for his work in high yield and investment grade debt, worked alongside a cross-border team including counsel Stephanie Liman, associate Alec Duncan, and trainee solicitor Holly Hill—all based in the firm’s Singapore office.
This bond issue adds to a recent wave of U.S. dollar high-yield activity coming out of India, as international investors look to tap into the country’s long-term growth story—and its accelerating shift to green energy.
Greenko Group is the world’s largest energy storage company and a global leader in clean energy solutions. Operating across 15 states in India, Greenko is pioneering the shift to carbon-neutral energy through its advanced Cloud Storage Platform. The company aims to deliver 30 GWh of storage by 2024 and scale to 100 GWh by 2025—supporting 40% clean energy integration into India’s power grid and enabling deep industrial decarbonization. Greenko is redefining renewable energy with firm, flexible, and digitally controlled storage solutions to accelerate the global transition to net zero.
Clifford Chance is a global law firm, established over 100 years ago, renowned for its expertise in banking, corporate law, finance, dispute resolution, and tax. With offices worldwide, it serves clients including corporations, financial institutions, governments, and not-for-profits. The firm delivers high-quality legal advice, combining global standards with local expertise, and strives to exceed client expectations by providing innovative solutions across all sectors.
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