Greenko is a renewable power generating company investing in biomass, small and medium hydro power and wind power projects. It was projected to achieve 1GW (Giga Watt=1000 Mega Watt) of installed capacity by March 2015. The company has been financing its projects with debt from Indian banks and financial institutions on a project finance basis. It has to decide whether to refinance the project finance debt with an international bond issue of $550 million. The case provides an opportunity to discuss the public policy and financing aspects of renewable energy in India.