Adani Green Energy (AGEL) has secured USD 400 million finance from a consortium of five international banks for its under-construction solar projects of 750 MW, in Gujarat and Rajasthan. These projects are expected to come online from November, 2024.
Among the projects, one is being developed in Rajasthan with 500 MW capacity, through a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project located at the world's largest renewable energy (RE) cluster in Khavda, Gujarat.
The consortium of lenders includes Cooperative Rabobank, DBS Bank, Intesa Sanpaolo, MUFG Bank and Sumitomo Mitsui Banking Corporation. AGEL, with 10,934 MW operational portfolio delivers, affordable, and clean power to the national grid. It comprises 7,393 MW in solar, 1,401 MW in wind and 2,140 MW in wind-solar hybrid capacity.
