Adani Green Energy Ltd (AGEL) has successfully refinanced its maiden construction facility, with an outstanding debt of $1.06 billion, through long-term financing. The refinancing deal, which has a door-to-door tenor of 19 years, features a fully amortized debt structure aligned with the lifespan of the underlying assets, the company said in a statement on Monday.
The original construction facility was secured in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan. With this refinancing, AGEL has completed its capital management program for the asset portfolio, ensuring that long-term funding is synchronized with the cash flow lifecycle.
The company emphasized that the framework of this refinancing program provides access to diverse capital pools, securing substantial long-term funding that strengthens financial stability. This move reinforces AGEL’s ability to sustain its growth and continue delivering value to stakeholders.
The refinancing facility has been assigned an AA+/Stable rating by three domestic agencies—ICRA, India Ratings, and CareEdge Ratings.
AGEL currently operates a renewable portfolio of 12.2 GW across 12 states, the largest in India. The company is targeting 50 GW of installed capacity by 2030, in line with India’s decarbonization goals.
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