Connection

popular articles

Qair acquires Green Switch Capital and strengthens its presence in the UK
Gas leak at GTA field: BP undertakes urgent repairs
Sitka Power Inc. Acquires a Renewable Energy and Energy Storage Portfolio from Saturn Power Inc.
Polestar records 76% rise in sales in Q1 2025
NANO Nuclear Energy and GNS develop an advanced fuel transport system

Major Financing for AGEL: Solar Expansion in India

Adani Green Energy Ltd (AGEL) secures $400 million in financing for its solar projects in Rajasthan and Gujarat, reinforcing its position as a world leader in renewable energies.
financement AGEL Inde
  • [favorite_button]

Please share:

AGEL, India’s leading renewable energy company, has just announced substantial financing for its 750 MW solar projects in the states of Rajasthan and Gujarat. The financing comes from a consortium of five leading international banks, underlining growing confidence in India’s renewable energy market. This new development marks a turning point for “merchant” type projects, once considered risky, and demonstrates the changing banking outlook towards independent energy projects.

Financing Structure and Strategy

The first project in Rajasthan, with a capacity of 500 MW, has been secured with a long-term purchase agreement with the Solar Energy Corporation of India (SECI). The second project, with a capacity of 250 MW at Khavda, is positioned in the world’s largest RE cluster and operates as a merchant project. This diversification of revenue models by AGEL enables sustainable value creation, while optimizing financial flows from traditional and merchant agreements. The financial institutions involved, such as Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, have shown renewed confidence in merchant-type projects, a notable change from their usual cautious approach.

Impact and prospects

The legal and compliance aspects of these financial transactions were handled by law firms of international stature. Latham & Watkins LLP and Saraf & Partners acted for AGEL, while Linklaters and Cyril Amarchand Mangaldas advised the banks. These legal collaborations ensure that agreements comply with international lending standards and green lending principles, which are essential for the sustainability of financing in the energy sector.

Sustainability Impact Assessment

The assessment of the sustainability of the financing was entrusted to Sustainable Fitch, which highlighted the transparency and robustness of the Green Loan framework for the 750 MW solar projects. This aligns AGEL with the four core components of the 2023 Green Lending Principles, furthering AGEL’s commitment to green energy solutions and its alignment with the UN Sustainable Development Goals, in particular MDG 7.

Implications for India’s Renewable Energy Sector

This financing marks a milestone for India’s renewable energy sector, indicating a transition towards more mature and competitive market integration. AGEL, with its operational portfolio of 10,934 MW – the largest in India, including 7,393 MW solar, 1,401 MW wind and 2,140 MW hybrid – continues to play a crucial role in supplying reliable, affordable and clean energy to the national grid. AGEL’s ability to attract international financing testifies to the growing competitiveness and confidence in India’s renewable energy sector, promising a clean energy transition and accelerated decarbonization.

Register free of charge for uninterrupted access.

Publicite

Latest news

Kern County reopens oil permitting despite historic decline in California
US shale oil drilling costs to rise 4.5% in 2025
Craig Steinke appointed CEO of BluEnergies following James Deckelman’s departure
Siemens Energy raises annual outlook after 52% surge in orders
Enel posts €2bn net profit rise despite falling electricity prices

Recently published in

Next2Sun secures European exclusivity for Huasun’s bifacial solar modules

German group Next2Sun signs an agreement with Chinese manufacturer Huasun Energy to become the exclusive European distributor of ultra-high bifaciality solar modules for vertical photovoltaic systems.
Pivot Energy raises $200mn for 144 MWdc community solar portfolio
Pivot Energy has secured a $200mn tax credit purchase commitment to finance 40 community solar projects across eight U.S. states.
en_1140290959540-3
Pivot Energy raises $200mn for 144 MWdc community solar portfolio
Pivot Energy has secured a $200mn tax credit purchase commitment to finance 40 community solar projects across eight U.S. states.
en_1140290959540-3
LONGi signs strategic agreement with ENGIE to supply solar projects in the Middle East and North Africa
LONGi will supply its Hi-MO 9 solar modules to ENGIE for large-scale projects in the MENA region, marking a new phase in industrial adoption of back contact technology.
en_1140290951540-3
LONGi signs strategic agreement with ENGIE to supply solar projects in the Middle East and North Africa
LONGi will supply its Hi-MO 9 solar modules to ENGIE for large-scale projects in the MENA region, marking a new phase in industrial adoption of back contact technology.
en_1140290951540-3
Hydro-Québec commits to 3,000 MW in solar with an initial 300 MW call
Hydro-Québec launches a 300 MW call for interest to initiate an investment plan targeting 3,000 MW of solar by 2035, marking a new strategic direction for the state-owned utility.
en_1140290949540-2
Hydro-Québec commits to 3,000 MW in solar with an initial 300 MW call
Hydro-Québec launches a 300 MW call for interest to initiate an investment plan targeting 3,000 MW of solar by 2035, marking a new strategic direction for the state-owned utility.
en_1140290949540-2

Quebec launches call for projects to boost solar energy production

The Quebec government announces a new solar energy initiative, partially addressing a proposal submitted by the opposition in 2024.
EDP Renewables invests in 200 MW solar and 150 MW storage in California
EDP Renewables North America strengthens its presence in the Central Valley with a new solar and storage project, bringing its California portfolio to over 1.1 GW.
en_1140290947540-2
EDP Renewables invests in 200 MW solar and 150 MW storage in California
EDP Renewables North America strengthens its presence in the Central Valley with a new solar and storage project, bringing its California portfolio to over 1.1 GW.
en_1140290947540-2
Cypress Creek launches 104MW solar project with $150mn funding in the United States
Cypress Creek Renewables secured $150mn in financing to begin construction of a 104MW solar park in Washington State, with commissioning expected by mid-2026.
en_1140290959540
Cypress Creek launches 104MW solar project with $150mn funding in the United States
Cypress Creek Renewables secured $150mn in financing to begin construction of a 104MW solar park in Washington State, with commissioning expected by mid-2026.
en_1140290959540
SkyFire Energy reaches 10 MW installed with Jayman BUILT and targets new projects
SkyFire Energy achieves 10 MW of installed solar capacity in partnership with Jayman BUILT and launches a new donation cycle to associations, including Discovery House in Calgary.
en_1140290958540
SkyFire Energy reaches 10 MW installed with Jayman BUILT and targets new projects
SkyFire Energy achieves 10 MW of installed solar capacity in partnership with Jayman BUILT and launches a new donation cycle to associations, including Discovery House in Calgary.
en_1140290958540

DESRI and Ranger Power secure financing for two 290 MW solar projects in the United States

Two solar plants developed in Michigan by DESRI and Ranger Power enter construction phase after securing financing from a banking consortium.
US solar tariffs redirect supply flows to Southeast Asia
The US announcement of tariffs exceeding 3,500% on Southeast Asian solar panels is pushing manufacturers to shift focus toward high-potential regional markets.
en_1140290981540-2
US solar tariffs redirect supply flows to Southeast Asia
The US announcement of tariffs exceeding 3,500% on Southeast Asian solar panels is pushing manufacturers to shift focus toward high-potential regional markets.
en_1140290981540-2
Swift Current activates 800 MW solar park in Illinois, the largest east of the Mississippi
Swift Current Energy’s Double Black Diamond project is now operational, becoming the largest solar facility in the region with 800 MW capacity and a supply contract including the City of Chicago.
en_1140290943540-14
Swift Current activates 800 MW solar park in Illinois, the largest east of the Mississippi
Swift Current Energy’s Double Black Diamond project is now operational, becoming the largest solar facility in the region with 800 MW capacity and a supply contract including the City of Chicago.
en_1140290943540-14
Panasonic exits residential solar despite continued public support for the sector
Panasonic has permanently ended its residential solar and storage activities, while continuing to publicly promote these technologies, raising questions about the coherence of its strategy.
en_1140290978540
Panasonic exits residential solar despite continued public support for the sector
Panasonic has permanently ended its residential solar and storage activities, while continuing to publicly promote these technologies, raising questions about the coherence of its strategy.
en_1140290978540

ENNA Solar acquires 87.5 MW solar project in Romania for €60mn

Croatian ENNA Solar acquires an 87.5 MW solar project in Romania from Kraftfeld Energy and plans to start construction in the third quarter of 2025.
Qatar doubles its solar capacity with Ras Laffan and Mesaieed inaugurated
Qatar inaugurated two photovoltaic plants totalling 875 MW, doubling its solar capacity and strengthening its energy goals for 2030.
en_1140290944540-19
Qatar doubles its solar capacity with Ras Laffan and Mesaieed inaugurated
Qatar inaugurated two photovoltaic plants totalling 875 MW, doubling its solar capacity and strengthening its energy goals for 2030.
en_1140290944540-19
Solaria signs 10-year agreement with Trafigura for solar energy supply
Solaria has signed a ten-year Power Purchase Agreement with Trafigura for 1 TWh of solar energy from the Cifuentes-Trillo photovoltaic complex in Spain.
en_1140290963540-10
Solaria signs 10-year agreement with Trafigura for solar energy supply
Solaria has signed a ten-year Power Purchase Agreement with Trafigura for 1 TWh of solar energy from the Cifuentes-Trillo photovoltaic complex in Spain.
en_1140290963540-10
Axpo and EDF Renewables sign a short-term PPA for two solar plants in Greece
Axpo and EDF Renewables Hellas have signed a short-term power purchase agreement for the output of two solar plants in Greece, with a total capacity of 102 megawatts.
en_1140290945540-16
Axpo and EDF Renewables sign a short-term PPA for two solar plants in Greece
Axpo and EDF Renewables Hellas have signed a short-term power purchase agreement for the output of two solar plants in Greece, with a total capacity of 102 megawatts.
en_1140290945540-16

TotalEnergies ENEOS installs a 28 MWp solar power plant at Samsung site in Vietnam

TotalEnergies ENEOS has launched its largest rooftop solar project in Vietnam to supply Samsung Electronics HCMC CE Complex operations in Ho Chi Minh City.
US solar industry to add 502 GWdc of capacity by 2035
The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
en_1140290967540-5
US solar industry to add 502 GWdc of capacity by 2035
The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
en_1140290967540-5
The UK seeks to ban the purchase of Chinese solar panels linked to forced labour
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
en_1140290951540-14
The UK seeks to ban the purchase of Chinese solar panels linked to forced labour
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
en_1140290951540-14
CATL unveils revolutionary electric vehicle batteries, paving the way for a new energy era
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
en_1140290944540-16
CATL unveils revolutionary electric vehicle batteries, paving the way for a new energy era
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
en_1140290944540-16

Morocco restarts Noor Ouarzazate III solar plant after more than a year of shutdown

After a one-year interruption, the Noor Ouarzazate III solar plant, with a capacity of 150 MW, has been brought back into operation by the Masen group. This event highlights Morocco's ambitions in renewable energy and energy transition.
Algeria and LONGi discuss industrial partnership for solar panel production
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
en_1140290953540-13
Algeria and LONGi discuss industrial partnership for solar panel production
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
en_1140290953540-13
Washington plans up to 3,521% tariffs on Southeast Asian solar panels
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
en_1140290956540-11
Washington plans up to 3,521% tariffs on Southeast Asian solar panels
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
en_1140290956540-11
Das Solar invests €109mn in photovoltaic plant in France
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
en_1140290947540-13
Das Solar invests €109mn in photovoltaic plant in France
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
en_1140290947540-13

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS