Thu Nov 21 06:53:25 UTC 2024: ## Adani Green Energy to Raise $2 Billion for Renewable Energy Expansion

**New Delhi, [Date of Publication]** – Adani Green Energy, India’s largest private renewable power company, is embarking on an ambitious fundraising drive, aiming to secure approximately US$2 billion in the coming months. The funds will fuel the company’s expansion plans, particularly its massive Khavda solar park project in Rajasthan.

The fundraising will be executed in multiple tranches via international bonds and loans. The company is expected to launch its first bond issuance, totaling US$600 million, in the coming days. A previous attempt to raise US$1.2 billion was postponed last month due to geopolitical uncertainties impacting investor sentiment and driving up yields.

While the initial bond offering will cover three of Adani Green’s Rajasthan-based wind and solar subsidiaries, a separate private placement is being negotiated for a fourth subsidiary, potentially concluding by early 2025.

In addition to bond issuances, Adani Green has already secured a US$3.4 billion construction framework agreement with several international banks, including DBS, Mizuho, SMBC, and MUFG. This framework is slated to expand to US$5 billion, with further tranches of US$300 million and US$550 million for construction financing expected shortly.

These significant fundraising efforts are directly linked to the company’s aggressive expansion goals at the Khavda project, a planned 30 GW solar park touted as the world’s largest renewable energy facility. Currently, 2.2 GW of capacity is operational at Khavda.

Adani Green, boasting an existing operational portfolio of 11.18 GW and a target of 50 GW by 2030, recently reported strong financial results for the September quarter, with a 20% rise in revenue and a 39% jump in net profit. Recent capacity additions include 2,868 MW of solar and wind energy. The company’s ongoing expansion underlines India’s commitment to renewable energy and its growing role in the global green energy transition.

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