Adani Green Energy Seeks USD 400 Million Offshore Loan for RE Project
The conglomerate is reportedly in talks with a consortium of global banks, including Mitsubishi UFJ Financial Group Inc., First Abu Dhabi Bank PJSC, Standard Chartered Bank, and Sumitomo Mitsui Financial Group Inc.
April 10, 2024. By Abha Rustagi
Sources close to the matter revealed that the potential foreign currency loan, spanning between seven to ten years, maybe priced with reference to the Secured Overnight Financing Rate (SOFR). While specifics of the deal remain undisclosed, the engagement signals Adani Green's proactive approach to securing capital for its projects.
The conglomerate is reportedly in talks with a consortium of global banks, including Mitsubishi UFJ Financial Group Inc., First Abu Dhabi Bank PJSC, Standard Chartered Bank, and Sumitomo Mitsui Financial Group Inc. These discussions highlight the company's efforts to diversify its financing sources and leverage international partnerships for sustainable growth.
India's clean energy targets play a key role in driving Adani Green's expansion plans. With the nation aiming to nearly triple its clean energy capacity by the end of the decade, primarily through solar and wind projects, Adani Green is poised to capitalize on this growing demand.
Additionally, India plans to invest USD 30 billion in building transmission lines to connect renewable energy sources to the grid, further enhancing the viability of projects undertaken by companies like Adani Green.
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