Adani Green delivers cash-backed redemption plan for $750-million Holdco bond
Eight months prior to maturity, the outstanding notes fully secured with cash balance in Senior Debt Redemption Account of Holdco Notes
Eight months prior to maturity, the outstanding notes fully secured with cash balance in Senior Debt Redemption Account of Holdco Notes
Ahmedabad-based Adani Green Energy Ltd. is exploring various instruments including private placement of debt, offshore bank loans as well as dollar and rupee bonds, the people said, asking not to be identified as the talks are private.
In a regulatory filing on Monday, Adani Green Energy said its wholly-owned subsidiary Adani Renewable Energy Holding Nine Ltd has incorporated four wholly-owned subsidiaries on December 18.
The finances of billionaire Gautam Adani’s empire have attracted investor attention after US short seller Hindenburg Research accused the conglomerate of corporate fraud earlier this year, allegations that the group has repeatedly denied.
The investments will boost the group's vision to have 45 gigawatt of renewable energy capacity by 2030, Adani said in a statement.
The solar and wind energy project will be so big that it will be visible from space, according to developers of what is called the Khavda renewable energy park, named after the village nearest to the project site.
This brings Adani Green's total funds in its construction asset portfolio to $3 billion, according to a stock exchange filing, from the initial project financing in March 2021 raised to set up solar and wind energy projects.
At present, 2,070 MW, or 30 per cent, of its operational 7,043 MW solar and hybrid capacity is covered by robotic cleaning technology, which conserves 283 million litres of water annually, AGEL said in a statement.
"With plans to deliver 2.8-3 GW capacity in FY24, the company's operating portfolio will increase to 11 GW. In FY24, the company has indicated a capex of Rs 14,000 crore," Singh said.
The banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc, they said. A representative of Adani Group declined to comment.
Adani Green's energy sales rose 87% in the quarter, mainly driven by solar-wind hybrid category, the green energy arm of Adani Group said.