InvestorQ : Why has Adani Green aggressively raised dollar debt in the global market?
Dhwani Mehta made post

Why has Adani Green aggressively raised dollar debt in the global market?

Answer
image
Dilmini Mercia answered.
5 months ago
Follow

Adani Green Energy, one of the star performers of the Adani Group, has managed to raise $1.35 billion debt for building on its renewable assets portfolio. The stock of Adani has been a virtual 30 bagger in the last 15 months and has turned out to be one of the star performers of the market. Adani has made some very big bets on the solar space and plans to drive the creation of solar capacity in India.

The funding of $1.35 billion by Adani Green will initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects . The company will set up a total of 4 special purpose vehicles or SPVs in the western Indian state of Rajasthan. This thrust also positions Adani Green to capture growth in the attractive Indian renewable sector, which is also in line with the energy plan for India in the light of the signing of the Paris Accord.

A total of 12 global banks have committed funds for this facility, and it includes some of the largest international banks operating with an exposure to India. This project loan is expected to be the first certified green hybrid project loan in India. This latest liquidity infusion eases the company’s path towards its vision of scaling capacity to 25 GW by 2025. Adani Green is already the biggest solar generator, not only in India, but also in the world.

1 Views