Adani Green Energy Achieves Major Milestone In Its Capital Management Journey

Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, is proud to announce that it has achieved another milestone in its Capital Management Journey.

AGEL has successfully refinanced its maiden Construction Facility with an outstanding amount of USD 1.06 billion, which was secured in 2021 for the development of India’s largest solar-wind hybrid renewable cluster in Rajasthan.

The long-term financing raised to refinance the Construction Facility features a door-to-door tenor of 19 years, with a fully amortized debt structure mirroring the underlying asset life.

With this breakthrough, AGEL has successfully completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities perfectly aligned with the cash flow lifecycle of the portfolio. This framework provides significant benefits through deep access to diverse pools of capital, enabling the securing of large sums with long durations.

This approach not only enhances financial stability but also ensures AGEL’s ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.

The refinancing facility has received a rating of AA+/Stable from three domestic rating agencies—ICRA, India Ratings, and CareEdge Ratings.