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Adani Green Energy Ltd (AGEL) has refinanced its first construction loan of USD 1.06 billion with long-term financing, according to a company filing on Monday.
This marks the first major fundraising by the Adani Group since the US Department of Justice (DOJ) charged its top executives, including Chairman Gautam Adani.
The company successfully completed its capital management program and secures long-term funding that aligns with its asset portfolio’s cash flow needs. This program offers significant benefits by giving access to diverse sources of capital and securing large sums for a long duration.
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Adani Green did not specify whether the funds were raised through debts or dollar bonds for the project.
“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 release said.
Earlier, Adani Green had postponed its $600 million bond offering in November 2024 after the DOJ indicted key executives, including Gautam Adani, on bribery charges related to securing solar energy contracts.
About Adani Green Energy Ltd
Adani Green Energy currently has the largest renewable energy portfolio in India, with 12.2 GW of capacity spread across 12 states. The company aims to reach 50 GW by 2030.
Last week, AGEL announced that it has surpassed 12,000 megawatts (MW) in its operational portfolio.
AGEL is the first and only renewable energy company in India to achieve this milestone. Its total portfolio of 12,258.1 MW includes 8,347.5 MW of solar, 1,651 MW of wind and 2,259.6 MW of wind-solar hybrid capacity.
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