Adani Green Refinances $1.06-Bn Loan For RE Project
Adani Green Refinances $1.06-Bn Loan For RE Project

New Delhi: Adani Green Energy Ltd (AGEL) on Monday announced it has refinanced its maiden construction facility, having outstanding debt of $1.06 billion with long-term financing. India’s largest renewable energy company successfully refinanced its maiden construction facility with an outstanding amount of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan, according to the statement.
The long-term financing raised to refinance its construction facility has door-to-door tenor of 19 years with a fully amortized debt structure emulating the underlying asset life, a company statement said. With this, AGEL achieved another milestone in its capital management journey.
With this breakthrough, AGEL has completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio.
The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.