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Home Renewable Solar

Adani Green Energy Raises $400 Million for Solar Power Projects

editor by editor
July 15, 2024
in Solar
Reading Time: 1 min read
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Adani Green Energy
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Adani Green Energy Limited (AGEL) has secured $400 million in financing from a consortium of international lenders for its 750 MW solar power projects under construction in Rajasthan and Gujarat. The 500 MW Rajasthan project has a long-term power purchase agreement with the Solar Energy Corporation of India, while the 250 MW Gujarat project is a standalone merchant power project located at Khavda, Gujarat.

The lenders, Cooperative Rabobank U.A., DBS Bank, Intesa Sanpaolo S.p.A., MUFG Bank, and Sumitomo Mitsui Banking Corporation have provided the debt facility.

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The construction facility of $400 million, along with funding solutions, also provides a syndicated guarantee-backed assurance program in sync with AGEL’s procurement strategy.

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