Adani Green Energy Raises $1.06 Billion to Refinance Renewable Facility

Adani Green Energy has raised USD 1.06 billion to refinance a construction facility related to a solar-wind hybrid renewable cluster in Rajasthan, the company said in an exchange filing.

The release said, “AGEL has successfully refinanced its maiden Construction Facility with outstanding of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan. The long-term financing raised to refinance its construction facility has door-to-door tenor of 19 years with fully amortised debt structure emulating the underlying asset life.”

The company concluded its capital management program for the underlying asset portfolio by securing long-term funding.

The company said, “The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.”

However, Adani Energy did not detail whether the amount was raised via loan or dollar bonds for the project.

Previously, Adani Green shelved its $600 bond offering after key executives, including Chairman Gautam Adani, were indicted by the US Department of Justice (DOJ) in the alleged bribery charges.