Adani Green Secures $400 million for 750 MW Solar Projects
Adani Green Energy Ltd (AGEL) secured $400 million from a consortium of five leading international banks for its under-construction 750 MW solar projects in Rajasthan and Gujarat, announced the company. This financing will support 750 MW of solar generation capacity across the two states, expected to become operational starting November.
In Rajasthan, a 500 MW project is underway with a long-term power purchase agreement with the Solar Energy Corporation of India (SECI). In Gujarat, a 250 MW standalone merchant power project is being developed at the Khavda renewable energy cluster.
The financing consortium includes Cooperative Rabobank U.A., DBS Bank Ltd., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation. This construction facility also offers a syndicated guarantee-backed assurance program, aligning with AGEL’s procurement strategy.
AGEL, India's largest renewable energy company, aims for ambitious growth with this financing. The company operates a portfolio of 10,934 MW, comprising 7,393 MW solar, 1,401 MW wind, and 2,140 MW wind-solar hybrid capacity. This portfolio contributes reliable, affordable, and clean power to the national grid.
