Adani Green Energy raises USD 288 mn for its construction renewable asset portfolio
Capital MarketAdani Green Energy has extended its Construction Financing Framework to USD 1.64 billion by raising a USD 288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders. The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that AGEL is setting up in Rajasthan, India. In March 2021, AGEL had closed a USD 1.35 billion construction revolver facility in one of Asia's largest project financing deals.
According to the definitive agreements, 7 international banks - BNP Paribas, Coeratieve Rabobank U.A., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation - committed for the facility which is a certified green hybrid project loan. The extended pool of liquidity strengthens AGEL's strategy to fast-track the development of its under-construction
asset portfolio in sync with accelerating the energy transition.
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