Adani Green Energy Limited (AGEL) has revealed additional funding of $1.36 billion to enhance its construction financing framework to $3 billion. This financial boost has been supported by a group of international banks. The green loan facility is set to play a crucial role in facilitating the progress of AGEL’s upcoming achievement, which is the renewable energy park in Khavda, Gujarat. The financing also represents a noteworthy milestone in advancing the development of 2,167 MW at the Khavda site in its initial phase, serving as a foundational step for the future expansion of the Khavda renewable project.
The final agreements have been formalised with eight prominent international banks (BNP Paribas, Coöperatieve Rabobank U.A., DBS Bank Limited, Intesa Sanpaolo S.p.A., MUFG Bank Limited, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation), all of which have previously participated as lenders and played a crucial role in establishing AGEL’s construction financing framework since March 2021.
The facility has received certification from Sustainalytics, a second party opinion provider, validating AGEL’s sustainable approach, adherence to key principles of green loan, and the sustainability quality of its asset pool. This certification underscores the substantial contributions to achieving sustainable development goal 7, focused on affordable and clean energy.
In August 2023, Mundra Solar Energy announced the commissioning of its 2 GW solar cells and modules manufacturing facility in Mundra, Gujarat. In May 2023, Adani Wind Energy Kutchh Five Limited inaugurated a 130 MW wind power plant in Gujarat, Kutch.
