Begin typing your search...

Adani Green raises a whopping $1.35 billion from 12 international banks

Adani Green Energy Ltd (AGEL) on Thursday said it has raised $1.35 billion debt for its under-construction renewable energy projects via definitive agreements signed with a group of 12 international lenders. The revolving project finance facility would initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects to be set up in four SPVs (special purpose vehicles) in Rajasthan, AGEL said in a statement.

Adani Green raises a whopping $1.35 billion from 12 international banks
X

Adani Green raises a whopping $1.35 billion from 12 international banks

Adani Green Energy Ltd (AGEL) on Thursday said it has raised $1.35 billion debt for its under-construction renewable energy projects via definitive agreements signed with a group of 12 international lenders. The revolving project finance facility would initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects to be set up in four SPVs (special purpose vehicles) in Rajasthan, AGEL said in a statement.

The company claimed this will be the first certified green hybrid project loan in India. The 12 international banks that will provide loans are Standard Chartered Bank, Intesa Sanpaolo S.p.A, MUFG Bank, Sumitomo Mitsui Banking Corporation, Coperatieve Rabobank U.A., DBS Bank ,Mizuho Bank, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V.

Adani Ports and SEZ to bring rail operations under one platform

"AGEL raised a USD 1.35 billion debt package for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders," the statement said. The new pool of liquidity strengthens AGEL's strategy to fully fund its under-construction asset and augurs well for its vision of scaling capacity to 25 GW by 2025.

The facility is an important element of AGEL's overall capital management plan and is key to fully funding its growth aspirations. AGEL shall engage with the financiers to raise financing efficiently and expeditiously for all the future projects as per the agreed threshold parameters, it added.

Dwaipayan Bhattacharjee
Next Story
Share it