Adani Green Energy Ltd (AGEL) is looking to tie up with close to a dozen foreign banks to avail greenfield funding for its under-construction assets. The company will raise $1.8 billion for the under construction and contracted portfolio of 12 Gw, which includes the country’s first manufacturing-linked solar power plant of 8 Gw.
In a post results call, Vneet S Jain, MD & CEO, AGEL said the company’s total renewable portfolio stands at 14.6 Gw of which 2.6 Gw has been commissioned. “AGEL is in the process of tie-up of $1.8 billion facility to fund the under construction pipeline,” said Jain.
AGEL reported a profit before tax of Rs 51.27 crore during the first quarter of FY21 ended June, as against loss of Rs 131.24 crore during the same period in FY20. The total income of the company during Q1FY21 rose to Rs 878.14 from Rs 675.23 crore in the same period last year.
