Adani Green Energy Ltd (AGEL), India’s leading renewable energy company, has successfully refinanced a $1.06 billion construction facility originally secured in 2021. The funds were initially raised to develop India’s largest solar-wind hybrid renewable energy cluster in Rajasthan—one of the most ambitious clean energy projects in the country.
The newly secured long-term financing comes with a 19-year door-to-door tenor and a fully amortizing debt structure that mirrors the lifecycle of the underlying assets. This move marks the successful conclusion of AGEL’s broader capital management program for the cluster, a strategy designed to align funding with the long-term cash flow profile of its energy assets.
The refinancing package not only reduces risk but also enhances financial flexibility. AGEL emphasized that the program’s architecture—built on long-duration capital and access to diverse funding sources—has laid a stable foundation for sustained growth and long-term value creation.
Backed by a strong track record of operational excellence, the new facility has received an AA/Stable rating from three top domestic agencies: ICRA, India Ratings, and CareEdge Ratings. This high creditworthiness underscores the confidence in AGEL’s financial discipline and execution capabilities.
“This milestone is more than a financial maneuver—it’s a validation of our strategy to build scalable, sustainable energy infrastructure,” said a company spokesperson. “With our capital program complete, we’re well-positioned to accelerate growth while staying true to our clean energy mission.”
AGEL, part of the Adani Group, develops, owns, and operates utility-scale solar, wind, hybrid, and hydro pumped storage projects. With an operational renewable portfolio of 12.2 GW spanning 12 Indian states, AGEL is not only the largest renewable energy company in India but also a key global player in the energy transition movement.
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