Adani Green Energy Ltd (AGEL) on Thursday said it has raised USD 1.35 billion debt for its under-construction renewable energy projects via definitive agreements signed with a group of 12 international lenders.
The revolving project finance facility would initially finance the 1.69 GW hybrid portfolio of solar and wind renewable projects to be set up in four SPVs (special purpose vehicles) in Rajasthan, AGEL said in a statement.
The company claimed this will be the first certified green hybrid project loan in India.
The 12 international banks that will provide loans are Standard Chartered Bank, Intesa Sanpaolo S.p.A, MUFG Bank, Sumitomo Mitsui Banking Corporation, Co?peratieve Rabobank U.A., DBS Bank ,Mizuho Bank, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V.
“AGEL raised a USD 1.35 billion debt package for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders,” the statement said.
The new pool of liquidity strengthens AGEL’s strategy to fully fund its under-construction asset and augurs well for its vision of scaling capacity to 25 GW by 2025.