Adani Green's Subsidiaries Set to Issue Dollar Bonds, Say Bankers

09 Oct 2024 CW Team

Four subsidiaries of Adani Green Energy, based in India, are planning to raise funds through U.S. dollar-denominated bonds, as indicated by two merchant bankers on Tuesday. The bonds will have a maturity period of 20 years, according to the bankers. The subsidiaries involved are Adani Hybrid Energy Jaisalmer One, Adani Hybrid Energy Jaisalmer Two, Adani Hybrid Energy Jaisalmer Four, and Adani Solar Energy Jaisalmer One, with plans to collectively raise between $500 million and $1 billion.

One banker, who preferred to remain anonymous due to restrictions on media communication, mentioned that the companies might enter the market before the end of the month, pending an assessment of investor interest during upcoming roadshows. Adani Green has not responded to requests for comment from Reuters.

The issuers have appointed various banks, including DBS Bank, Emirates NBD Bank, First Abu Dhabi Bank, Mizuho Securities (Singapore), MUFG Securities Asia's Singapore branch, SMBC Nikko Securities (Hong Kong), Societe Generale, and the State Bank of India's London branch, as joint bookrunners. These banks will coordinate a series of investor meetings across Asia, the Middle East, Europe, the U.K., and the U.S.

The bonds are rated BBB- (EXP) by Fitch and Baa3 by Moody's. The proceeds from this bond issuance are intended to refinance the subsidiaries' existing dollar-denominated construction loans. Fitch noted that the proposed notes would feature security and protective structures akin to those of the group's current restricted notes, with each of the four special purpose vehicles (SPVs) participating in the issuance.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..