Adani Green Energy Boosts Financing to $3 Billion with $1.36 Billion Follow-On Funding

5 Dec 2023 , 02:13 PM

Adani Green Energy (AGEL) secures a follow-on funding of $1.36 billion through a senior debt facility, expanding its construction financing framework to $3 billion.

The financing, backed by a consortium of international banks, marks a historic milestone and will support the development of the Khavda site, poised to become the world’s largest renewable energy park with a 17 GW generation capacity.

Definitive agreements are signed with eight leading international banks, all returning lenders involved in establishing AGEL’s construction financing framework since March 2021.

The green loan facility is extended by a consortium including BNP Paribas, Coöperatieve Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation.

AGEL’s CEO, Amit Singh, expresses the company’s commitment to delivering low-cost green energy, leveraging technology, digital transformation, and focusing on development and operational excellence.

AGEL, India’s largest renewable energy solutions partner, aims to expand its renewable power capacity to 45 GW by 2030, contributing to climate change mitigation. The company currently operates a renewable portfolio of 8.4 GW, the largest in India, spanning 12 states and offsetting over 41 million tonnes of CO2 emissions cumulatively.

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