Adani Green Energy bags project financing to support 1.69GW of solar and wind

Facebook
Twitter
LinkedIn
Reddit
Email
Adani’s 780MWp Kamuthi project in the Indian state of Tamil Nadu. Image: Adani Green Energy.

Indian PV developer Adani Green Energy has raised a US$1.35 billion debt package to initially support the construction of a 1.69GW hybrid portfolio of solar and wind projects in the state of Rajasthan.

Some 12 international banks will commit to the revolving project finance facility, which Adani claimed will be India’s first certified green hybrid project loan.  

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company said the new liquidity pool is key to fully funding its growth aspirations, which include a target of achieving an installed generation capacity of 25GW of renewable power by 2025, a ramp-up requiring a total clean energy investment of US$15 billion.

Analysis published last month by consultancy JMK Research & Analytics revealed that Adani has India’s largest operating portfolio of utility-scale solar and wind assets. With an addition of 700MW last year, Adani Green Energy’s renewables capacity is now around 3,245MW. This will be bolstered by the development of 3GW of PV capacity the company recently secured in an auction in the state of Andhra Pradesh.

Adani Green Energy earlier this year strengthened ties with Total, with the French oil and gas major acquiring a 20% stake in the company.

On the latest financing agreement, Adani Green Energy (AGEL) CEO Vneet Jaain said the deal positions the firm to capture growth in India’s renewables sector.  “We believe that establishing depth and diversity in our funding resources is critical for AGEL’s vision to become the largest renewable player in the world.”

The 12 banks committing to the facility are: Standard Chartered, Intesa Sanpaolo, MUFG, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank, DBS Bank, Mizuho Bank, BNP Paribas, Barclays, Deutsche Bank, Siemens Bank and ING.

Read Next

October 2, 2025
The Indian solar industry has 86GW and 182GW of solar cell and module manufacturing capacity, respectively, expected to be commissioned by 2027.
October 2, 2025
The Indian Department of Commerce has launched an antidumping investigation on solar encapsulants originating or exported from South Korea, Vietnam and Thailand.
September 29, 2025
Indian solar manufacturer Waaree has said it does not expect to pay additional duties on its solar cell imports to the US, following the start of an antidumping and countervailing duty (AD/CVD) investigation by the US Customs and Border Patrol (CBP).
September 26, 2025
The Indian Ministry of New and Renewable Energy (MNRE) has added 4.8GW of annual solar cell nameplate capacity to its Approved List of Models and Manufacturers (ALMM) List-II.
September 25, 2025
Inox Solar has started the first phase of commercial operations at a module manufacturing plant in Bavla, India.
September 24, 2025
The development of India’s power transmission network is lagging behind the country’s rapid growth in renewable energy, leading to project delays and cost increases

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland