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Adani Green Energy Secures $400 Million Finance for Solar Projects

Adani Green Energy Ltd (AGEL) has successfully obtained a $400 million finance package from a consortium of five international banks to support its ongoing solar projects in Gujarat and Rajasthan. These projects, totaling 750 MW in capacity, are slated to commence operations from November 2024 onwards.

Project Details

  • One of the projects, located in Rajasthan, boasts a capacity of 500 MW and has entered into a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI).
  • The second project, with a capacity of 250 MW, is a standalone merchant power project situated in Khavda, Gujarat, within the world’s largest renewable energy (RE) cluster.

Consortium of Lenders

The consortium providing financial support comprises Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation.

AGEL’s Operational Portfolio

AGEL currently maintains India’s largest operational portfolio, totaling 10,934 MW. This includes 7,393 MW of solar capacity, 1,401 MW of wind capacity, and 2,140 MW of wind-solar hybrid capacity. AGEL remains committed to delivering reliable, affordable, and clean power to the national grid.

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