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Adani Green Energy Refinances USD 1.06 Bn Loan for Solar-Wind Hybrid Projects in Rajasthan

Adani Green Energy Ltd. (AGEL) has refinanced its construction facility with outstanding of USD 1.06 billion for developing solar-wind hybrid renewable cluster in Rajasthan with a 19-year long-term debt.

March 05, 2025. By Mrinmoy Dey

Adani Green Energy Ltd (AGEL) has announced that it has successfully refinanced its maiden construction facility with outstanding of USD 1.06 billion taken in 2021 to develop India's largest solar-wind hybrid renewable cluster in Rajasthan.

The long-term financing raised to refinance its construction facility has door-to-door tenor of 19 years with fully amortised debt structure emulating the underlying asset life.

“With this breakthrough, AGEL has successfully completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio,” the company shared in a statement.

It further added that the framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.

This approach not only enhances financial stability but also ensures AGEL's ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.

The refinancing facility has received a rating of AA+/Stable from three domestic rating agencies-ICRA, India Ratings, and CareEdge Ratings.

AGEL develops, owns, and operates utility scale grid-connected solar, wind, hybrid and hydro pumped storage renewable power plants. It currently has an operating renewable portfolio of 12.2 GW, spread across 12 states.

AGEL is developing the world’s largest renewable energy plant with a capacity of 30 GW on barren wasteland at Khavda, Gujarat, covering 538 square kilometres. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonisation goals.

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Adani Green Energy

Refinancing

AGEL solar-wind hybrid projects

Solar wind hybrid projects in Rajasthan

Khavda Renewable Energy Park