Adani Green Energy has extended its Construction Financing Framework to $1.64 billion by raising a $288 million facility for its under-construction renewable asset portfolio through agreements with a group of international lenders.
The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that Adani Green Energy is setting up in Rajasthan, India. In March 2021, Adani Green Energy had closed a $1.35 billion construction revolver facility in one of Asia’s largest project financing deals.
Seven international banks – BNP Paribas, Rabobank, Intesa Sanpaolo, MUFG Bank, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation – committed for the certified green hybrid project loan.
Vneet Jaain, MD & CEO of Adani Green Energy, said: “We have set a target of achieving 45 GW renewable energy capacity by 2030, representing 10 percent of the India’s 450GW countrywide renewable energy target.”