Adani Green Energy bags one of the largest project financing deals of Asia to date

Adani Green Energy Ltd (AGEL), one of the biggest renewable energy companies in the world signed a deal worth USD 1.35 billion that secured financing for its renewable asset portfolio (currently under construction) with 12 international banks. This will enable the company to initially finance the 1.69 GW hybrid portfolios, which comprises of solar & wind renewable projects to be set up in 4 SPVs in the state of Rajasthan, India.    

  The 12 international banks (Standard Chartered Bank, Intesa Sanpaolo, MUFG Bank, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank, DBS Bank Ltd, Mizuho Bank Ltd, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank) which are a part of the deal committed for a facility, is said to be the first certified green hybrid project loan in India. This deal will strengthen AGEL’s strategy to fully-finance its under construction asset and would prove promising for its vision of scaling capacity to 25 GW by the year 2025.   

  The aforementioned facility is a key element of AGEL’s overall capital management, emphasizing the overall development philosophy of Adani and will be instrumental in financing its future aspirations. This deal lays out the framework of consented terms, conditions and procedures, under which, AGEL will engage with the financiers to raise funds smoothly and efficiently for all the future projects as per the agreement.    

  At 10.27 am today, the share price of AGEL stood at Rs 1,151.30, which was an increase of 1.45 per cent over its previous day’s close of Rs 1,134.80 on BSE.