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Adani Green Energy raises $750 million

Adani Green raises $750 million and moves closer to its goal of becoming the world's largest renewable energy platform.|Adani Green raises $750 million and moves closer to its goal of becoming the world's largest renewable energy platform.

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Adani Green Energy ltd (AGEL) is India’s largest renewable energy company.
The company has raised $750 million in capital.
The capital raised will be used for equity financing of capital expenditure and underlying renewable projects under construction by AGEL.

Adani Green is growing fast

This is the first issue by ListCo, of Adani Green Energy Limited, following successful issues by its subsidiaries RG1 and RG2 in 2019.
This $750 million issue makes AGEL India’s leading lender to the renewable energy sector.
With a solid, well-defined capital management plan.
Indeed, the company’s global order book stands at over $3.5 billion.

Become the world’s leading RE platform by 2030

The funds will be used to finance capital expenditure on renewable energy projects currently under construction.
The company can draw up to $1.7 billion from the current issue.
The bonds have been rated Ba3 (stable) by Moody’s.
AGEL is thus completing the final phase of its capital management plan.
It now has a fully-funded debt and equity program for its target of 25 GW of clean energy by 2025.
Earlier in the year, AGEL finalized a $1.35 billion framework agreement for the construction of renewable energy projects.
With AGEL’s entire pipeline now fully financed, the company is set to become the world’s largest renewable energy platform by 2030.

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