Lawstreet Journal

Adani Green Energy Ties-Up with 10 International Banks to Diversify Its Construction Portfolio

Lawstreet Journal 14 Sep 2020 11:30pm

Image courtesy: Lawstreet Journal Business Adani Green Energy Ties-Up with 10 International Banks to Diversify Its Construction Portfolio

Adani Green Energy stated that it has tied-up with 10 international banks to branch out their construction finance portfolio for its current as well as future projects. The company has a portfolio of 14 GW functioning in construction and awarded wind and solar parks and also has further plans to commission renewable capacity of 25 GW by the year 2025. 

Executive Director of the Adani Green Energy, Sagar Adani said, “We have a huge construction pipeline that is ahead of us. Typically, how we do our financing is that by taking construction funding from Indian banks and once they are functional stage then we refinance the portfolio by raising international bond backing. What we are doing is going ahead because of the size, scale, and volume of projects we have ahead of us, and apart from the Indian banks we are also having around 10 odd International banks who are going to work and back us for construction greenfield funding.” 

The executive director didn’t delve into any further details of the projects and its funding but he clarified that they are moving a step forward towards diversifying their construction finance portfolio so that the projects are absolutely funded at the time of execution. Adani also said that the drawdown of the service will be done by October and the projects to be executed till December 2021 will be fully sponsored. 

He further mentioned, “this is going to be a revolving construction facility so as soon as the projects are commissioned appropriately, they will… Continue Reading...

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