Gautam Adani's company gets Rs 8700 crore funding for India’s largest solar-wind hybrid project located in...

Adani Green Energy Ltd (AGEL), India's largest renewable energy company, has announced the refinancing of USD 1.06 billion (approximately Rs 8,700 crore) to develop the country’s biggest solar-wind hybrid renewable energy cluster in Rajasthan. This move marks another significant milestone in AGEL's strategic capital management journey.

Refinancing to Strengthen Financial Stability
AGEL successfully refinanced its initial construction facility, which had an outstanding amount of USD 1.06 billion (Rs 8,700 crore) borrowed in 2021. The newly raised long-term financing comes with a door-to-door tenor of 19 years, featuring a fully amortized debt structure that matches the life span of the underlying assets. This strategic financial arrangement helps the company align its cash flow lifecycle with the capital needs of its renewable energy projects.

The construction facility received an AA+/stable rating from three domestic rating agencies, reflecting AGEL's strong operational performance. The capital management framework not only offers deep access to diverse capital pools but also enables AGEL to secure large sums of funds with extended durations. This approach boosts the company's financial stability and supports its ambitious growth plans, ensuring sustainable value creation for its stakeholders.

Ambitious Growth Plans and Renewable Portfolio
Currently, AGEL boasts an operational renewable energy portfolio of 12.2 gigawatts (GW), making it the largest in India. The company’s projects are spread across 12 states, and it aims to reach 50 GW by 2030, aligning with India’s decarbonization goals.

Just last week, AGEL hit a new record by surpassing a 12,000 megawatts (MW) operational portfolio. This achievement came with the commissioning of an additional 275 MW of solar capacity at the world's largest renewable energy plant in Khavda, Gujarat. The company is the first in India’s renewable energy sector to achieve this remarkable milestone.

AGEL’s total portfolio of 12,258.1 MW includes 8,347.5 MW of solar energy, 1,651 MW of wind energy, and 2,259.6 MW of wind-solar hybrid capacity. At the Khavda site alone, AGEL has operationalized a cumulative capacity of 2,824.1 MW of renewable energy so far.

A Boost to India’s Renewable Energy Vision
With its robust financial strategy and record-breaking achievements, AGEL is well-positioned to contribute significantly to India’s renewable energy targets. The company’s focus on long-term capital management and strategic investments in hybrid renewable clusters not only strengthens its market leadership but also aligns with the country’s broader environmental and sustainability goals.

Through initiatives like these, AGEL is not only expanding its renewable energy footprint but also playing a pivotal role in India's transition towards a greener and more sustainable future.