India’s largest renewable energy company, Adani Green Energy Ltd (AGEL) has recently announced that the company has achieved another milestone in its Capital Management Journey.
Adani Green Energy Ltd Refinanced USD 1.06 Billion
On Monday, AGEL informed that they have successfully refinanced its maiden Construction Facility with an outstanding of USD 1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
Further, they highlighted that the long-term financing raised to refinance its Construction Facility has a door-to-door tenor of 19 years with fully amortized debt structure emulating the underlying asset life.
Now AGEL has successfully completed its capital management program for the underlying asset portfolio with this breakthrough.
This program involves securing long-term facilities that are perfectly aligned with the cash flow life cycle of that portfolio.
Enhanced Financial Stability & Sustainable Value Creation
The framework of this program holds a great significance as it provides several benefits through deep access to diverse pools of capital, securing large sums with long duration.
Moving ahead, it not only enhances financial stability but also ensures AGEL’s ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.
Besides this the company claimed that the facility has been rated AA /stable by three domestic rating agencies showcasing its strong operational performance track record.
As earlier said, the refinancing facility has received a rating of AA/Stable from three domestic rating agencies including ICRA, India Ratings, and CareEdge Ratings.
This is a significant breakthrough as it serves as a completion of the capital management program for the underlying asset portfolio.
When it comes to the strategic program, it has proven to be the main catalyst for AGEL’s sustained growth and is vital to achieving its long-term growth objectives.
When it comes to Adani Green Energy Ltd, it is India’s largest and one of the leading renewable energy companies in the world enabling the clean energy transition.
This company develops, owns, and operates utility scale grid connected solar, wind, hybrid and hydro pumped storage renewable power plants.
Coming to profits, AGEL has an operating renewable portfolio of 12.2 GW, the largest in India, spread across 12 states currently.
The energy company has set a target of achieving 50 GW by 2030 which is aligned to India’s decarbonization goals.
The company appears to be focusing on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling large-scale adoption of affordable clean energy.
