Adani Green bags $400m facility for 750 MW solar projects

The financing is supported by a consortium composed of five international banks.

Adani Green has secured $400m of financing to support the construction of its solar projects in the states of Rajasthan and Gujarat with a total capacity of 750 megawatts (MW).

In a statement, Adani said the $400m construction facility is led by a consortium of five international banks which includes Cooperative Rabobank U.A., DBS Bank Ltd., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation.

The project in Rajasthan has a 500 MW capacity with a long-term power purchase agreement with the Solar Energy Corporation of India.

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The Guarat power plant, meanwhile is a standalone power project with a 250 MW capacity.

“The green loan, housed under subsidiaries of AGEL supports the company’s growth trajectory and aligns with its commitment to sustainability,” the company said.

Adani Green has 10,934 MW of operational portfolio, the largest in India.