Adani Group firm raises $362.50 million through 20-year green bonds

Adani Green Energy, through its three subsidiaries has raised $ 362 million through sale of green bonds for 20- year tenure, the company informed exchanges on Friday.

“The respective board of directors of Adani Renewable Energy, Wardha Solar and Kodangal Solar Parks, being wholly-owned subsidiaries of Adani Green Energy, directly or indirectly, have approved the issuance of US Dollar-denominated 20-years senior secured green bonds aggregating to $362.50 million,” the company said in a statement to the exchanges.

These funds will be used to repay their respective foreign currency loans and rupee borrowings, and the balance will go towards capital expenditure, other project-related liabilities or for general corporate purposes, in accordance with guidelines prescribed by the Reserve Bank of India.