Adani Green Energy Ltd (AGEL) has successfully secured $1.06 billion to support the development of India’s largest solar-wind hybrid renewable energy cluster in Rajasthan. This marks a significant milestone in the company’s capital management strategy.
The refinancing replaces AGEL’s initial construction facility from 2021, ensuring a long-term financial structure with a door-to-door tenor of 19 years and a fully amortized debt plan aligned with the asset’s lifecycle. The construction facility has received an AA+/Stable rating from three leading domestic agencies, reflecting the company’s strong operational performance.
With this strategic move, AGEL has completed its capital management program for the underlying asset portfolio, securing long-term financial facilities that align with its cash flow lifecycle. This framework provides access to diverse capital pools, facilitating large-scale funding with extended durations.
AGEL currently leads India’s renewable energy sector with an operational portfolio of 12.2 GW across 12 states. The company is targeting 50 GW capacity by 2030, in line with India’s decarbonization goals.
Recently, AGEL expanded its renewable portfolio beyond 12,000 MW by commissioning an additional 275 MW solar capacity at the world’s largest renewable energy plant in Khavda, Gujarat. As the first Indian renewable energy company to achieve this milestone, AGEL now operates a total of 12,258.1 MW, including 8,347.5 MW of solar, 1,651 MW of wind, and 2,259.6 MW of hybrid wind-solar capacity. The company has so far operationalized 2,824.1 MW at the Khavda site.
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