Adani Green Energy raises $1.35 billion for its renewable asset portfolio

Adani Green Energy Limited (AGEL), part of India-based Adani Group, raised a $1.35 billion 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 would initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects to be setup in four SPVs in the state of Rajasthan, India.
According to the agreement, 12 international banks committed for the facility which will be the first certified green hybrid project loan in India. According to the company, 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.«
AGEL has a global renewable portfolios with over 14,815 MW of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
As reported, in January, French energy company Total SA acquired a 20 percent minority interest in AGEL, and furthermore a 50 percent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL for about $2.5 billion. According to the company, the investment is »another step in the strategic alliance between Adani Group and Total,« which covers investments in LNG terminals, gas utility business, and renewable assets across India.
© PHOTON

Related News