Adani Energy achieves $1 bn financial closure for transmission asset

Adani Energy Solutions, previously known as Adani Transmission, has announced the financial closure of $1 billion for its transmission asset currently under development in Mumbai. The company plans to initiate construction work in October.

The financial package forms part of a $700 million revolving project finance facility set up in October 2021 for its portfolio of transmission assets under construction. In a prior statement, the company mentioned the unique capital expenditure revolving structure of the facility provides funding of $1.1 billion on a fully drawn basis.