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.
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.
