Ahmedabad: In a significant move to bolster its renewable energy ambitions, Adani Green Energy Ltd (AGEL) has successfully refinanced a construction facility worth $1.06 billion in Rajasthan. This strategic financial maneuver, announced on Monday, underscores AGEL’s commitment to developing India’s largest solar-wind hybrid renewable cluster in the state. The refinancing, which addresses a 2021 debt facility, marks a crucial milestone in AGEL’s capital management journey, aligning with its broader goal of achieving financial stability and growth.
The refinanced facility boasts a 19-year tenor with a fully amortized debt structure, mirroring the lifespan of the underlying assets. This long-term financing approach not only enhances AGEL’s financial stability but also ensures its ability to continue on its growth trajectory, delivering sustainable value to stakeholders. The construction facility has been rated AA+/stable by three domestic rating agencies, reflecting AGEL’s strong operational performance.
AGEL currently operates the largest renewable energy portfolio in India, with 12.2 GW spread across 12 states. The company aims to expand this capacity to 50 GW by 2030, aligning with India’s decarbonization goals. Recently, AGEL surpassed a record operational portfolio of 12,000 MW with the commissioning of additional solar capacity at the world’s largest renewable energy plant in Khavda, Gujarat.
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