Ahmedabad (Gujarat) [India]: Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, announced on Monday that it has achieved a significant milestone in its Capital Management Journey. The company successfully refinanced its maiden Construction Facility of USD 1.06 billion, initially taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
Adani Green Energy Ltd (AGEL) has successfully refinanced its maiden Construction Facility with an outstanding of USD 1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan. The long-term financing raised to refinance its… pic.twitter.com/vtAW6Qohog
— ANI (@ANI) March 3, 2025
AGEL highlighted that the long-term financing secured to refinance the construction facility has a door-to-door tenor of 19 years with a fully amortized debt structure, aligning with the underlying asset life.
With this move, AGEL has successfully completed its capital management program for the underlying asset portfolio, focusing on securing long-term financing that aligns with the cash flow lifecycle of its assets. The company emphasized that this program’s framework provides significant advantages by offering deep access to diverse pools of capital and securing substantial sums for extended durations.
This approach not only strengthens financial stability but also ensures AGEL’s capacity to continue its growth trajectory and deliver sustainable value to its stakeholders.
On the back of a strong operational performance track record, the company also announced that the refinancing facility has been rated AA+/Stable by three domestic rating agencies: ICRA, India Ratings, and CareEdge Ratings.
AGEL stated,
“The successful refinancing of the construction facility underscores our commitment to sustainable growth and efficient capital management. This achievement is a crucial step in realizing our long-term growth objectives.”
This milestone also marks the completion of AGEL’s capital management program for the underlying asset portfolio, which has been instrumental in driving the company’s sustained growth.
Adani Green Energy Ltd is India’s largest and one of the leading renewable energy companies globally, playing a pivotal role in enabling the clean energy transition. The company develops, owns, and operates utility-scale grid-connected solar, wind, hybrid, and hydro pumped storage renewable power plants.
AGEL currently operates a renewable portfolio of 12.2 GW, the largest in India, spread across 12 states. The company has set an ambitious target of achieving 50 GW by 2030 in alignment with India’s decarbonization goals.
Focusing on leveraging technology to reduce the Levelized Cost of Energy (LCOE), AGEL is dedicated to enabling the large-scale adoption of affordable clean energy in India.