(M.C)
Adani Green Energy Ltd has extended its construction financing pool to $1.64 billion by raising $288 million for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders. Initially, the facility will finance the 450 MW hybrid portfolio of solar and wind renewable projects that the Adani group company is setting up in Rajasthan. According to the definitive agreements, seven international banks—BNP Paribas, Coöperatieve Rabobank U.A., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation—committed to the certified green hybrid project loan.
In March 2021, the company closed a $1.35-billion construction revolver facility in one of Asia’s largest project financing deals. The extended pool of liquidity will help the company to fast-track the development of its under-construction asset portfolio and to accelerate the energy transition. ”Adani Green Energy has set a target of achieving 45 GW renewable energy capacity by 2030, representing 10 percent of the govt of India’s 450GW countrywide renewable energy target,” said Vneet S Jaain, MD & CEO, Adani Green Energy Limited.
