Adani Green Energy Reaches New Heights in Capital Management with $1.06 Billion Refinancing

Adani Green Energy Ltd (AGEL) has announced the successful refinancing of $1.06 billion to develop India’s largest solar-wind hybrid renewable energy cluster in Rajasthan. This marks another significant milestone in the company’s capital management strategy.

The refinancing is part of AGEL’s efforts to enhance its renewable energy portfolio and further its commitment to India’s sustainable energy goals. The amount refinanced was originally part of the construction facility taken in 2021. AGEL has now successfully refinanced this facility with long-term financing that has a 19-year tenor and an amortized debt structure aligned with the lifespan of the underlying assets.

Strong Ratings and Capital Management Success

AGEL’s refinancing effort has been well-received by credit rating agencies. The facility has been rated AA+/stable by three domestic agencies, reflecting the company’s strong operational performance. This achievement underscores AGEL’s ability to secure long-term capital with favorable terms, positioning it for future growth and stability.

The refinancing is part of AGEL’s broader capital management program, which ensures that its financing is perfectly aligned with the cash flow lifecycle of its renewable energy assets. This strategy allows AGEL to access diverse pools of capital, securing large sums with long durations to support its expansion.

AGEL’s Renewable Energy Milestones and Future Goals

AGEL, India’s largest renewable energy company, currently operates a portfolio of 12.2 GW, making it the country’s leader in renewable energy capacity. The company aims to expand its operational portfolio to 50 GW by 2030, contributing significantly to India’s decarbonization targets.

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Recently, AGEL surpassed a major milestone, reaching 12,000 MW of operational capacity with the commissioning of an additional 275 MW of solar capacity at the Khavda renewable energy plant in Gujarat. This achievement makes AGEL the first renewable energy company in India to reach this landmark. The company’s current portfolio includes 8,347.5 MW of solar power, 1,651 MW of wind energy, and 2,259.6 MW of wind-solar hybrid capacity.

AGEL has also operationalized 2,824.1 MW of renewable energy at the Khavda plant, which is recognized as the world’s largest renewable energy project.

Looking Ahead: A Sustainable Energy Future

AGEL’s continued growth and capital management success solidify its position as a leader in India’s renewable energy sector. With its ambitious target for 2030, AGEL is poised to play a crucial role in India’s transition to sustainable, low-carbon energy.

This refinancing marks a key step in AGEL’s ongoing efforts to provide long-term value creation for its stakeholders while contributing to India’s clean energy future.