- Adani Energy signs a definitive agreement with seven banks concerning $288million debt.
- Adani Energy plans to finance a 450MW hybrid portfolio of solar and wind projects in Rajasthan.
Adani Green Energy Ltd, an Indian renewables developer, has signed formal agreements with seven foreign banks for a $288 million senior debt facility, bringing its total construction funding to $1.64 billion.
The company hopes to use the new facility to support its renewable asset portfolio under construction. In particular, it intends to fund a 450MW hybrid portfolio of solar and wind projects that it is currently constructing in Rajasthan.
BNP Paribas, Cooperative Rabobank UA, Intesa Sanpaolo SpA, MUFG Bank Ltd, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation signed agreements for the financing, which is defined as a certified green hybrid project loan.
AGEL closed a $1.35 billion construction revolver with 12 international lenders a year ago.