Adanis to invest Rs 9,350 cr in green energy arm to achieve 45 GW target
Billionaire Gautam Adani and his family will inject Rs 9,350 crore into the conglomerate’s green energy arm to equip it to achieve the 45 GW target by 2030 and to meet debt payment obligations, according to a company filing.
The board of Adani Green Energy Ltd (AGEL) on Tuesday approved the plan to issue 6.31 crore warrants at Rs 1,480.75 apiece to promoter group companies, Ardour Investment Holding Ltd and Adani Properties Pvt Ltd.
The investment of Rs 9,350 crore “will be used for deleveraging and accelerated capital expenditure” in AGEL, the firm said in the filing.
