Adani Green Energy Ltd (AGEL) has raised $1.35 billion debt from 12 global banks to finance its projects that are under construction, the Gautam Adani-led renewable energy company said on Thursday.
The revolving finance facility will initially fund the company’s 1.69 gigawatts (gw) hybrid portfolio of solar and wind renewable projects to be set up in through four special purpose vehicles (SPVs) in Rajasthan. It is a part of the company’s strategy to fully fund its under construction asset portfolio to achieve 25 gw capacity by 2025.
