+
Adani Green raises $288-mn for its under-construction RE portfolio
POWER & RENEWABLE ENERGY

Adani Green raises $288-mn for its under-construction RE portfolio

Adani Green Energy Limited (AGEL) told the media that it has raised a $288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders, bringing its total construction financing framework to $1.64 billion.

The facility will initially finance AGEL's 450 megawatts (MW) hybrid portfolio of solar and wind renewable projects in Rajasthan, according to an official press release.

The company closed a $1.35 billion construction revolver facility in March 2021.

Seven international banks — BNP Paribas, Coéperatieve Rabobank, Intesa Sanpaolo, MUFG Bank, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation — committed for the facility, which is a certified green hybrid project loan, according to the press release.

The company's strategy to accelerate the development of its under-construction asset portfolio in tandem with the energy transition will be strengthened by the expanded pool of liquidity, according to the statement.

Standard Chartered Bank served as Mandated Lead Arranger, Bookrunner (MLAB), Documentation Bank, and E and S Co-Ordinator bank, according to the company. MLABs MUFG Bank and Sumitomo Mitsui Banking Corporation acted as Co-Technical Advisors and Co-Green Loan Advisors, respectively. Furthermore, the Facility's MLABs were BNP Paribas, Codperatieve Rabobank, Intesa Sanpaolo, and Societe Generale.

The borrower's counsel included Latham & Watkins LLP and Saraf & Partners, among others. Linklaters and Cyril Amarchand Mangaldas represented the lenders.

Image Source

Also read: Adani Group signs deal for two power projects in Sri Lanka

Adani Green Energy Limited (AGEL) told the media that it has raised a $288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders, bringing its total construction financing framework to $1.64 billion. The facility will initially finance AGEL's 450 megawatts (MW) hybrid portfolio of solar and wind renewable projects in Rajasthan, according to an official press release. The company closed a $1.35 billion construction revolver facility in March 2021. Seven international banks — BNP Paribas, Coéperatieve Rabobank, Intesa Sanpaolo, MUFG Bank, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation — committed for the facility, which is a certified green hybrid project loan, according to the press release. The company's strategy to accelerate the development of its under-construction asset portfolio in tandem with the energy transition will be strengthened by the expanded pool of liquidity, according to the statement. Standard Chartered Bank served as Mandated Lead Arranger, Bookrunner (MLAB), Documentation Bank, and E and S Co-Ordinator bank, according to the company. MLABs MUFG Bank and Sumitomo Mitsui Banking Corporation acted as Co-Technical Advisors and Co-Green Loan Advisors, respectively. Furthermore, the Facility's MLABs were BNP Paribas, Codperatieve Rabobank, Intesa Sanpaolo, and Societe Generale. The borrower's counsel included Latham & Watkins LLP and Saraf & Partners, among others. Linklaters and Cyril Amarchand Mangaldas represented the lenders. Image Source Also read: Adani Group signs deal for two power projects in Sri Lanka

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?