Adani Green raises $1.35 billion debt financing for its renewable energy portfolio

Adani Green Energy Limited (AGEL) has raised $1.35 billion (Rs 97.93 billion) debt from 12 international banks for financing its under-construction renewable asset portfolio.

The revolving project finance facility would initially finance 1.69 GW of solar-wind hybrid projects to be set up in Rajasthan. The twelve international lenders, including Standard Chartered Bank, Intesa Sanpaolo, MUFG Bank, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank U.A., DBS Bank Limited, Mizuho Bank, Limited, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V will participate for the facility which will be the first green hybrid project loan in India. The latest round of funding is expected to help the company scale its capacity to 25 GW by 2025.

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