Home Business Adani Green Energy Gains Over 4% After Raising $1.35 Billion For Renewable...

Adani Green Energy Gains Over 4% After Raising $1.35 Billion For Renewable Asset Portfolio


Adani Green Energy Gains After Raising $1.35 Billion For Renewable Asset Portfolio

Shares of Adani Green Energy last traded 4.69per cent higher at Rs 1,188 on the BSE.

Share price of Adani Green Energy Limited gained more than four per cent on Friday, March 19, after the company raised $1.35 billion or Rs 9,785 crore in foreign loans from 12 international banks to finance its 1.69 GW under-construction hybrid (wind and solar) renewable projects in Rajasthan. Shares of Adani Green Energy opened on the BSE at Rs 1,134.80, touching an intra day high of Rs 1,187.90 and an intra day low of Rs 1,081.00. Adani Green Energy has raised the amount in one of Asia’s largest project financing deals.

According to the agreement, the revolving project finance facility will initially fund the 1.69 gigawatt hybrid portfolio of the solar and wind renewable projects to be set up in four special purpose vehicles in Rajasthan.

12 international banks, including Intesa Sanpaolo SpA, Sumitomo Mitsui Banking Corporation, MUFG Bank, Standard Chartered Bank, Cooperatieve Rabobank UA, Barclays Bank Plc, Mizuho Bank Ltd, DBS Bank Ltd, ING Bank NV, Deutsche Bank AG, BNP Paribas, and Siemens Bank GmbH committed for the facility which will be the first certified green hybrid project loan in the country.

Shares of Adani Green Energy last traded 4.69 per cent higher at Rs 1,188 on the BSE.

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