Adani Green Energy Limited (AGEL) raise $1.35 billion from a group of 12 international banks.
In March 2021, Adani Green Energy Limited (AGEL) announced that it had raised $1.35 billion from a group of 12 international banks to finance its renewable energy projects. The banks involved in the deal include Standard Chartered Bank, Intesa Sanpaolo, MUFG Bank, Sumitomo Mitsui Banking Corporation, Cooperative Rabobank U.A., DBS Bank, Mizuho Bank, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH, and ING Bank N.V.
AGEL is a leading renewable energy company in India with a strong track record of developing clean energy projects across the country. The company has a diverse portfolio of renewable energy assets, including solar, wind, and hybrid projects.
The $1.35 billion financing deal will enable AGEL to continue its expansion in the renewable energy sector by financing new projects and expanding its existing portfolio. The funds raised will be used to develop new renewable energy projects with a total capacity of 1.69 GW, including 1.2 GW of solar energy and 450 MW of hybrid power. The projects will be spread across 11 Indian states and will help AGEL achieve its goal of becoming the world’s largest renewable energy company by 2030.
The 12 international banks involved in the deal are among the world’s leading financial institutions and have a strong track record of supporting sustainable investments in the renewable energy sector. The financing deal demonstrates the growing appetite for sustainable investments among global financial institutions and their willingness to support the transition to a low-carbon economy.
To summarize the deal features, we can create a table as follows:
| Deal Features | Description |
|---|---|
| Deal Size | $1.35 billion |
| Purpose | Financing new renewable energy projects and expanding AGEL’s existing portfolio. |
| Capacity | Develop new projects with a total capacity of 1.69 GW, including 1.2 GW of solar energy and 450 MW of hybrid power. |
| Project Spread | Projects to be spread across 11 Indian states. |
| Banks Involved | Standard Chartered Bank, Intesa Sanpaolo, MUFG Bank, Sumitomo Mitsui Banking Corporation, Cooperative Rabobank U.A., DBS Bank, Mizuho Bank, BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH, and ING Bank N.V. |
| Sustainability | Demonstrates the growing appetite for sustainable investments among global financial institutions and their willingness to support the transition to a low-carbon economy. |
In conclusion, the $1.35 billion financing deal secured by AGEL from a group of 12 international banks is a significant step towards supporting sustainable investments in the renewable energy sector in India. The funds raised will enable AGEL to continue its expansion in the renewable energy sector and help the company achieve its goal of becoming the world’s largest renewable energy company by 2030. This financing deal also demonstrates the growing appetite for sustainable investments among global financial institutions and their willingness to support the transition to a low-carbon economy.