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Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, has successfully refinanced its maiden Construction Facility with a long-term financing arrangement of USD 1.06 billion. The original facility was taken in 2021 to develop India’s largest solar-wind hybrid renewable energy cluster in Rajasthan. This refinancing marks a major milestone in the company’s capital management journey. The new financing has a door-to-door tenor of 19 years with a fully amortized debt structure that aligns with the lifespan of the underlying assets. By securing long-term funding, AGEL has completed its capital management program for this asset portfolio. The approach provides significant advantages by allowing access to large pools of capital with extended repayment terms. This ensures financial stability and supports the company’s long-term growth strategy. With this refinancing, AGEL strengthens its financial position, allowing it to continue its expansion in the renewable energy sector. The successful refinancing demonstrates the company’s strong operational performance and disciplined financial management. The facility has been rated AA+/Stable by ICRA, India Ratings, and CareEdge Ratings, reflecting confidence in AGEL’s creditworthiness. This strategic move not only reinforces AGEL’s capital structure but also sets a solid foundation for future growth. The refinancing enables AGEL to optimize its financial resources while ensuring the long-term sustainability of its renewable energy projects. The achievement highlights the company’s commitment to advancing India’s clean energy goals and delivering long-term value to its stakeholders. |
