MCB Capital Markets advises EnVolt on Rs510million Green Project Bond Issue

MCB Capital Markets, MCB Group’s Investment Banking, Asset Management and Principal Investments arm, has acted as Transaction Advisor on EnVolt’s inaugural issue of Rs510 million (USD 11 million) in Green Project Bonds under EnVolt’s MUR 2 billion (USD 45 million) Multicurrency Green Bond Programme.

The proceeds of this issuance will go towards financing the construction of 13 solar farms across the island for an aggregate capacity of 14 MWand at an estimated project cost of Rs680 million (USD 15million).

EnVolt is the renewable energy development subsidiary of ENL Group.

This issuance is described as a significant milestone for the Mauritian debt capital markets as it marks the first time that a renewable energy project is financed through a bond issue.

Source: Le Mauricien