Adani Green Energy is set to raise approximately $2 billion through a combination of international bonds and loans, according to a report by The Economic Times. This initiative highlights the company's focus on securing long-term financing to support its renewable energy projects and operational growth.
The company plans to issue a $600 million bond in the coming days. This follows the postponement of a $1.2 billion bond issuance last month, attributed to investor demands for higher yields amid geopolitical uncertainties and rising global market rates.
The bond issuance will support three Rajasthan-based subsidiaries involved in wind and solar power projects, while a separate private placement for another subsidiary, targeting a 20-year tenure, is expected to conclude by early 2025, The Economic Times noted.
In addition to bond financing, Adani Green is securing $850 million in construction loans through two tranches, expected within the next two months. These funds will primarily advance projects like the Khavda solar park, part of the world's largest renewable energy park, with a planned capacity of 30 GW.
Adani Green is transitioning from short-term loans to bond markets, aiming to extend debt maturity and reduce financial risks. The company also plans to expand its $3.4 billion construction financing framework, developed with international banks like DBS and MUFG, to $5 billion to support upcoming projects.
With an operational renewable capacity of 11.18 GW as of September 2024, Adani Green aims to scale up to 50 GW by 2030. Recent portfolio additions include 2,868 MW of capacity, comprising solar and wind projects. The company reported robust financial performance in Q2 FY2024, with a 20% year-on-year revenue increase to ₹2,309 crore and a 39% rise in net profit to ₹416 crore.
This funding effort underscores Adani Green's commitment to advancing India's renewable energy transition and expanding its role in the global green energy market.
