Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, has successfully refinanced $1.06 billion in construction financing to support the development of India’s largest solar-wind hybrid renewable cluster in Rajasthan. The refinancing marks a major milestone in the company’s capital management journey, ensuring long-term financial stability for its clean energy projects.
Long-Term Refinancing to Support Renewable Expansion
The construction facility was originally taken in 2021 to fund the Rajasthan hybrid renewable energy cluster, and the new refinancing agreement provides a door-to-door tenor of 19 years, aligning debt repayment with the lifecycle of the underlying assets. This fully amortized structure enhances AGEL’s financial health while securing stable funding for its renewable initiatives.
The company stated that this refinancing move completes its capital management program, which allows AGEL to tap into diverse pools of capital and raise large-scale, long-duration financing. This strategy helps ensure sustained growth and enables AGEL to continue delivering value to stakeholders while driving India’s clean energy transition.
High Ratings Reflect Strong Financial Health
The refinancing facility has been rated AA/Stable by three domestic rating agencies—ICRA, India Ratings, and CareEdge Ratings—highlighting AGEL’s strong operational track record and financial credibility. The company’s ability to secure long-term capital at competitive rates underscores its leadership in India’s renewable energy sector.
Also read: AGEL Wins 1,250 MW Hydro Storage Project in UP
AGEL’s Renewable Energy Leadership and Future Goals
AGEL is currently the largest renewable energy operator in India, with an operating portfolio of 12.2 GW across 12 states. The company aims to scale up its renewable capacity to 50 GW by 2030, aligning with India’s decarbonization targets.
The company remains focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE), enabling the large-scale adoption of affordable clean energy. As AGEL continues to expand its renewable footprint, its ability to secure long-term financing and maintain financial discipline will play a crucial role in supporting India’s clean energy ambitions.
