Rabo India launches `green' division
: "RABO India Finance Private Ltd has announced the setting up of a new `Sustainability and social innovation' division to provide structured financial products and services for eco-friendly and sustainable development projects. The division will cater to commercially viable `green' ventures, including climate products (trading of carbon credits), renewable energy and co-generation projects based on wind power and baggase, municipal solid waste processing, wastewater treatment and desalination plants, etc. ..
Mr Bart Jan Krouwel, who is the worldwide head of Rabobank Nederland's `Sustainability and social innovation' division, said that the Rabobank Group currently has a portfolio of green loans amounting to around $ 1 billion and has funded over 1,000 projects so far. "We have significant expertise and competence to develop financial solutions for green projects, including providing project advisory and syndication services and assisting developers in achieving timely financial closure. We also have an active carbon credit desk, specialising in banking and trading of carbon credits'', he added. Rabo India was already involved in funding around 20 sustainable development projects in the country, which have either been completed or are ongoing projects. " Mentioned were:
- 18 MW wind energy project in Satara, Maharashtra
- 40 MW baggase-based cogeneration project in Tamil Nadu
- 14 MW bio-mass venture involving processing of paddy husk in Andhra Pradesh
- 5 MW municipal waste project in Lucknow
- total Rs 65 crore ($13m) cogeneration and Rs 35 crore ($7m) wind power