Adani Green Energy raises Rs 612cr for debt refinancing

AHMEDABAD: Three subsidiaries of Adani Green Energy Limited namely Adani Green Energy (UP) Limited, Prayatna Developers Limited and Parampujya Solar Energy Limited, on Friday announced they raised Rs 612.3 crore for debt financing. The companies collectively house 930 megawatt of operational solar power projects.

According to a company statement, rated, listed, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each, in multiple series, have an average annualised coupon rate of 7.83% per annum fixed and a tenure up to 12 years. The proceeds from the NCDs will be utilised to part-refinance existing rupee term loan bearing higher interest cost, it further mentioned.