Adani Green Energy (AGEL) marked a significant financial milestone on December 5, announcing the acquisition of a follow-on funding of $1.36 billion through a senior debt facility. This infusion, supported by a consortium of international banks, elevates AGEL's construction financing framework to an impressive $3 billion. The extension of this framework is hailed as a historic landmark by Vneet S Jaain, the Managing Director of AGEL. The additional funding will play a pivotal role in advancing the development of the Khavda site, which is poised to emerge as the world's largest renewable energy park, boasting a substantial generation capacity of 17 GW.

Definitive agreements for this substantial funding have been successfully executed with eight leading international banks, all of which have been integral returning lenders that played a crucial role in establishing AGEL's construction financing framework since March 2021. The consortium of lenders includes prestigious institutions such as BNP Paribas, Coöperatieve Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation. This green loan facility underscores the commitment of these financial entities to sustainable and environmentally conscious initiatives.

Amit Singh, the CEO of AGEL, expressed the company's dedication to delivering low-cost green electrons through the strategic utilization of technology, an accelerated digital transformation, and an unwavering focus on development and operational excellence. Singh affirmed AGEL's ambitious commitment to expanding its renewable power capacity to an impressive 45 GW by 2030, emphasizing the company's proactive stance in mitigating climate change risks.

AGEL, recognized as India's largest renewable energy solutions partner, is at the forefront of developing, owning, and operating utility-scale grid-connected solar, wind, and hybrid renewable power plants. The company's growth trajectory is firmly locked in at 20.4 GW, with the current operating renewable portfolio standing at 8.4 GW – the largest in India. These renewable assets are strategically spread across 12 states, contributing significantly to offsetting over 41 million tonnes of CO2 emissions cumulatively.

The funding infusion of $1.36 billion and the expanded construction financing framework of $3 billion underscore AGEL's financial robustness and its strategic position as a key player in the renewable energy sector. This development not only propels AGEL's projects forward but also contributes to the broader global objective of transitioning towards sustainable and clean energy solutions.