Adani Green Energy achieves Major Milestone in its Capital Management Journey

Adani Green Energy Ltd (AGEL), India's largest renewable energy company, is proud to announce that it has achieved another milestone in its Capital Management Journey.

AGEL has successfully refinanced its maiden Construction Facility with outstanding of USD 1.06 billion taken in 2021 to develop India's largest solar-wind hybrid renewable cluster in Rajasthan. The long-term financing raised to refinance its Construction Facility has door-to-door tenor of 19 years with fully amortized debt structure emulating the underlying asset life.

With this breakthrough, AGEL has successfully completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio. The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.

This approach not only enhances financial stability but also ensures AGEL's ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.

The refinancing facility has received a rating of AA+/Stable from three domestic rating agencies-ICRA, India Ratings, and CareEdge Ratings.

Shares of Adani Green Energy Limited was last trading in BSE at Rs. 804.50 as compared to the previous close of Rs. 774.05. The total number of shares traded during the day was 428730 in over 13730 trades.

The stock hit an intraday high of Rs. 808.90 and intraday low of 758.00. The net turnover during the day was Rs. 335315509.00.

Source : Equity Bulls

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AdaniGreenEnergy INE364U01010 Milestone