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An Indian port operator developing a coal terminal has sparked controversy after it raised $400 million from its debut sustainability-linked bond.

A INR19.5 billion ($300 million) green "masala" bond has been issued by state-owned enterprise Indian Renewable Energy Development Agency (IREDA) - and the government says will play a key role in helping India smash its ambitious 175GW renewables target.

April was a solid month for green bond issuance, raising some $5.6 billion. That figure is up on the $5.3 billion for the same month last year, mainly thanks to a RMB15000 ($2.2 billion) from Bank of Beijing, the biggest Chinese green bond of the year.

Greenko has priced India's first dollar-denominated 'high yield' corporate green bond, with more expected to follow.

India's National Thermal Power Company (NTPC) has priced the first ever green 'Masala' bond from a corporate issuer, raising INR20 billion ($370 million).

Indian state-owned utility National Thermal Power Company (NTPC) has mandated four banks to lead manage the country's first offshore rupee green bond.

There will "probably be many more green bonds out of India" said Shikha Sharma, CEO of Axis bank, one of the country's leading private sector banks.

The green bond market has continued its rapid march to maturity in recent weeks, with new geographies and industry sectors coming to market for the first time, innovative bond structures being launched, significant pricing advantages being reported, and plans for a new service to rate bonds on their environmental impact.

India's Axis Bank said its inaugural $500 million, five-year green bond was 2.2 times oversubscribed and, as a result, the issuer tightened the pricing to 160 basis points over US Treasuries from 175 points over.

The Financial Stability Board (FSB) has appointed nine more members to its new Task Force on Climate-related Financial Disclosures.