India’s Top State Green Energy Firm Mulls First Local Bond Sale

NTPC Green Energy Ltd., India’s most valuable state-run green energy firm, is considering its first local-currency bond sale, according to people familiar with the matter, joining a wave of companies tapping into lower funding costs.

A unit of the nation’s largest power generator, the company is weighing an issuance of 20 billion rupees ($228 million) to 30 billion rupees through five- or 10-year note, the people said, asking not to be identified as the details are private. The renewable-energy firm is expected to finalize the sale and approach the market after the Reserve Bank of India’s policy rate decision on Wednesday, they said.