RENEWABLE ENERGY

Adani Green Energy ties up with 10 int’l banks for construction projects

Adani Green Energy on Friday said it has tied up with around 10 international banks to diversify construction finance portfolio for its ongoing and future projects. The company — which has a portfolio of 14 GW of operating, in- construction and awarded wind and solar parks — is aiming to commission renewable capacity of 25 GW by 2025.

“We have a very large construction pipeline that is ahead of us. Typically how we do our financing is that we take construction financing from Indian banks and once they are operational then we refinance the portfolio by raising international bond funding.

“So, what we are doing going ahead is because of the size, scale and volume of projects we have ahead of us, in addition to the Indian banks we are also having about 10 odd international banks who are going to work with us for construction greenfield funding,” Adani Green Energy executive director Sagar Adani told reporters in a media analyst call.

Source
ET Energy World
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