Adani Green Energy raises $288 mil. for under-construction renewable asset portfolio

21 Mar 2022 , 10:21 AM

The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that Adani Green Energy (AGEL) is setting up in Rajasthan, India. In March 2021, AGEL had closed a $1.35 billion construction revolver facility.

According to the definitive agreements, seven international banks – BNP Paribas, Co?peratieve 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 AGELs strategy to fast-track the development of its under-construction asset portfolio in sync with accelerating the energy transition.

On a consolidated basis, the company reported a 12% rise in net profit to Rs 49 crore on a 92.5% jump in net sales to Rs 1,391 crore in Q3 FY22 over Q3 FY21.

Shares of Adani Green Energy declined 1.90% to Rs 1,869.45 on BSE. Adani Green Energy has one of the largest global renewable portfolios with 19.8 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties.

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