Adani Green Energy Ltd (AGEL) on Monday announced it has refinanced $1.06 billion to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan — achieving another milestone in its capital management journey.<\/p>\n

India’s largest renewable energy company successfully refinanced its maiden construction facility with an outstanding amount of $1.06 billion taken in 2021.<\/p>\n

The long-term financing raised to refinance its construction facility has a door-to-door tenor of 19 years, with a fully amortised debt structure emulating the underlying asset life, the company said in a statement.<\/p>\n

On the back of the strong operational performance track record, the construction facility has been rated AA+\/stable by three domestic rating agencies.<\/p>\n

With this breakthrough, AGEL has successfully completed its capital management programme for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio.<\/p>\n

The framework of this programme provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.<\/p>\n

“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,” said the company.<\/p>\n

AGEL currently has an operating renewable portfolio of 12.2 GW, the largest in the country, spread across 12 states. The company has set a target of achieving 50 GW by 2030, aligned to India’s decarbonisation goals.<\/p>\n

Last week, the company surpassed a record 12,000 megawatts (MW) operational portfolio with the commissioning of an additional 275 MW solar capacity at the world’s largest renewable energy plant at Khavda in Gujarat.<\/p>\n

AGEL is the first renewable energy company in India to reach this landmark. The 12,258.1 MW portfolio consists of 8,347.5 MW solar, 1,651 MW wind and 2,259.6 MW wind-solar hybrid capacity.<\/p>\n

It has operationalised a cumulative capacity of 2,824.1 MW renewable energy at Khavda in Gujarat so far.<\/p>\n

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)<\/i><\/p>\n

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