Adani Green Energy Limited (AGEL) is set to raise 93.5 billion by issuing warrants to its promoters, including Ardour Investment Holding and Adani Properties, at a rate of Rs 1,480.75 per share through preferential allotment. On December 26, 2023, the board of directors granted approval for the issuance with the aim of reducing company debt and expediting capital expenditure to attain the renewable capacity target of 45 GW by 2030. The issuance is contingent upon obtaining approval from regulatory and statutory authorities, and the company’s shareholders at the extraordinary general meeting slated for January 18, 2024.
The company possesses a pipeline capacity totaling 20.6 GW and has acquired land exceeding 200,000 acres, equivalent to an additional capacity of over 40 GW in regions abundant with resources throughout the country.
Recently, in December 2023, AGEL revealed the successful conclusion of the transfer of its 1,050 MW renewable energy portfolio to a joint venture with TotalEnergies.
In the same month, AGEL executed power purchase agreement with the Solar Energy Corporation of India to deliver solar power of capacity 1,799 MW.
