Adani Green raises ₹9,785 cr in one of Asia’s largest project financial deals
Adani Green Energy Ltd (AGEL) said on Thursday it has raised a 1.35 billion dollars (about ₹9,785 crore) debt package for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders.
The revolving project finance facility will initially finance the 1.69 gigawatt hybrid portfolio of solar and wind renewable projects to be set up in four special purpose vehicles in Rajasthan. According to the agreement, 12 international banks — Standard Chartered Bank, Intesa Sanpaolo SpA, MUFG Bank, Sumitomo Mitsui Banking Corporation, Cooperatieve Rabobank UA, DBS Bank Ltd, Mizuho Bank Ltd, BNP Paribas, Barclays Bank Plc, Deutsche Bank AG, Siemens Bank GmbH and ING Bank NV — committed for the facility which will be the first certified green hybrid project loan in India.
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.
