This Adani Group Company Achieves Major Milestone in its Capital Management Journey; Refinances USD 1.06 Billion Maiden Construction Facility with Long-Term Financing
With a market capitalization of Rs 1,22,058 crore and a PE ratio of 83.9x, the company trades at a premium compared to the industry PE of 27x.
Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, is proud to announce that it has achieved another milestone in its Capital Management Journey.
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AGEL has successfully refinanced its maiden Construction Facility with outstanding of USD 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 amortized debt structure emulating the underlying asset life.
With this breakthrough, AGEL has successfully 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.
This approach not only enhances financial stability but also ensures AGEL’s ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.
The refinancing facility has received a rating of AA+/Stable from three domestic rating agencies ICRA, India Ratings, and CareEdge Ratings.
About the Company
Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.
With a market capitalization of Rs 1,22,058 crore and a PE ratio of 83.9x, the company trades at a premium compared to the industry PE of 27x. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.