Investment for Accelerated Growth for a Green India
In a significant move towards reinforcing its position as a global renewable energy leader, Adani Green Energy Ltd (AGEL), India’s most significant and the world’s leading renewable energy developer, has announced the approval of a preferential issuance of warrants to its promoters. The Board of Directors at AGEL has given the green light for a significant investment of INR 9,350 crore (USD 1,125 million), subject to regulatory approvals and shareholder consent.
The preferential issuance of warrants is a strategic move to propel AGEL towards achieving 45 GW of renewable energy capacity by 2030. The funds raised to INR 9,350 crore will be directed towards deleveraging and accelerating capital expenditure, further strengthening AGEL’s position in the renewable energy landscape.
Vision for a Green India
Gautam Adani, Chairman of the Adani Group, expressed his optimism about India’s trajectory to become a global leader in renewable energy. He stated, “India is on the cusp of becoming a global leader in renewable energy, and Adani Green Energy is in the vanguard of this revolution.” Mr. Adani emphasized the family’s commitment to realizing the nation’s clean energy aspirations and fostering an equitable energy transition.
With 20.6 GW of locked-in capacity, secured land spanning over 2,00,000 acres (equivalent to over 40 GW of additional capacity) in resource-rich areas of India, and the other equity infusion of INR 9,350 crore, AGEL is now fully equipped to meet its ambitious target of 45 GW by 2030. This comprehensive approach ensures that AGEL remains positioned to achieve its accelerated growth trajectory.
AGEL’s recent announcements include a USD 1.36 billion construction facility from eight leading international banks to develop 2,167 MW solar power projects in Khavda, Gujarat. Additionally, the company has declared a USD 1.425 billion equity capital infusion, with USD 1.125 billion from the preferential issuance by promoters and USD 300 million from the TotalEnergies joint venture. This brings the total capital raise to approximately USD 3 billion.
The significant investments and capital infusion underscore the deep interest from long-term investors, strategic partners, and financial institutions. This collective commitment, along with the continued dedication of the promoters, reaffirms AGEL’s strategic vision and its target of adding 45 GW of renewable capacity in India by 2030.
Adani Green Energy’s latest financial moves and strategic partnerships position the company at the forefront of India’s renewable energy revolution. As the nation advances towards becoming a global leader in clean energy, AGEL’s robust financial backing and ambitious targets play a crucial role in paving the way for a sustainable and green future.
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