Adani Green Energy Ltd (AGEL) has raised a USD 288 million facility for its under-construction renewable asset portfolio through final agreements inked with a consortium of leading international lenders, bringing its Construction Financing Framework to USD 1.64 billion.
The financing would first be used to fund AGEL’s 450 MW hybrid portfolio of solar and wind renewable energy projects in Rajasthan, India. AGEL secured a USD 1.35 billion construction revolver facility in March 2021, making it one of Asia’s largest project financing agreements.
Seven international banks – BNP Paribas, Coöperatieve Rabobank U.A., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation – have committed to the facility, which is a certified green hybrid project loan, according to the definitive agreements.
