Adani Green Energy Ltd. (AGEL) has successfully raised $1.06 billion to refinance a construction facility linked to its solar-wind hybrid renewable cluster in Rajasthan, the company announced on March 3.
Long-Term Financing Details
According to the company’s filing, the new financing has a tenor of 19 years, with a fully amortized debt structure designed to match the lifespan of the renewable asset. This move is expected to provide financial stability for the project in the long run.
AGEL’s Renewable Energy Expansion
Currently, Adani Green operates the largest renewable energy portfolio in India, with 12.2 GW of capacity across 12 states. The company has set an ambitious goal of reaching 50 GW by 2030 as part of its clean energy expansion plan.
Despite the announcement, Adani Green’s stock was down by over 1% in early trade on March 3.
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Source: Moneycontrol.
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