Adani Green Energy Ltd (AGEL) on Monday announced that it has refinanced its maiden Construction Facility with an outstanding amount of USD 1.06 billion. The facility, initially taken in 2021, was used to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
The company stated that the long-term financing raised for refinancing has a door-to-door tenor of 19 years with a fully amortised debt structure that aligns with the asset’s lifecycle. This move marks the completion of AGEL’s capital management programme for the underlying asset portfolio, ensuring long-term financial stability and aligning with the cash flow lifecycle of the portfolio.
AGEL highlighted that the framework of this capital management programme enables deep access to diverse pools of capital, securing substantial funds with long-term tenures. The company stated that this strategy strengthens its financial stability, supports growth, and ensures sustainable value creation for stakeholders.
As a result of its strong operational performance, AGEL reported that the refinancing facility has been rated AA+/Stable by three domestic rating agencies—ICRA, India Ratings, and CareEdge Ratings.
Adani Green Energy Ltd develops, owns, and operates large-scale grid-connected solar, wind, hybrid, and hydro pumped storage renewable power plants. The company currently has an operating renewable energy portfolio of 12.2 GW, making it the largest in India, with projects spread across 12 states.
It has set a target of reaching 50 GW by 2030 in line with India’s decarbonisation goals. AGEL remains focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) and drive large-scale adoption of affordable clean energy.
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