Adani Green secures $750 million in funding with successful Holdco Bond issue.

Adani Green Energy (AGEL) has completed the funding for its USD 750 million 4.375 notes due September 9, 2024. The company received the funds from the preferential allotment of Rs 9,350 crore to its promoters. The shareholders of AGEL approved the preferential allotment with a 99.9% majority on January 18, 2024. The promoters then infused Rs 2,338 crore (USD 281 million) into AGEL, which was set aside in reserve accounts. The funds will be used to redeem the Holdco Notes. This move reflects the company’s commitment to meeting its strategic priorities, including achieving a target of 45 GW by 2030. AGEL is India’s largest renewable energy solutions partner, with a locked-in growth trajectory of 20.6 GW and an operating renewable portfolio of 8.4 GW across 12 states. The company has offset over 41 million tonnes of CO2 emissions cumulatively. The successful equity capital raise program of USD 1.425 billion and the promoter commitment have boosted investors’ confidence in AGEL.