- Adani Green Energy Ltd has announced refinancing USD 1.06 billion to develop the country’s most significant solar-wind hybrid renewable energy.
- The construction facility received an AA+/stable rating from three domestic rating agencies, reflecting AGEL’s strong operational performance.
Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, has announced refinancing USD 1.06 billion (approximately Rs 8,700 crore) to develop the country’s most significant solar-wind hybrid renewable energy cluster in Rajasthan. This move marks another significant milestone in AGEL’s strategic capital management journey.
AGEL successfully refinanced its initial construction facility, which had an outstanding amount of USD 1.06 billion (Rs 8,700 crore) borrowed in 2021. The newly raised long-term financing comes with a door-to-door tenor of 19 years, featuring a fully amortised debt structure that matches the life span of the underlying assets. This strategic financial arrangement helps the company align its cash flow lifecycle with the capital needs of its renewable energy projects.
The construction facility received an AA+/stable rating from three domestic rating agencies, reflecting AGEL‘s strong operational performance. The capital management framework offers deep access to diverse capital pools and enables AGEL to secure large sums of funds with extended durations. This approach boosts the company’s financial stability and supports its ambitious growth plans, ensuring sustainable value creation for its stakeholders.
Last week, AGEL hit a new record by surpassing 12,000 megawatts (MW) operational portfolio. This achievement came with the commissioning of an additional 275 MW of solar capacity at the world’s largest renewable energy plant in Khavda, Gujarat. The company is the first in India’s renewable energy sector to achieve this remarkable milestone.
AGEL’s total portfolio of 12,258.1 MW includes 8,347.5 MW of solar energy, 1,651 MW of wind energy, and 2,259.6 MW of wind-solar hybrid capacity. At the Khavda site alone, AGEL has operationalised a cumulative capacity of 2,824.1 MW of renewable energy so far.
With its robust financial strategy and record-breaking achievements, AGEL is well-positioned to contribute significantly to India’s renewable energy targets.