HomeInvestment & Trading ›Adani Group's Arm ANIL Bags USD 394 Million Funding to Establish Solar Plant

Adani Group's Arm ANIL Bags USD 394 Million Funding to Establish Solar Plant

Adani's new renewable energy-focused division procured a working capital loan of USD 394 million (INR 3,231 crore) from Barclays and Deutsche Bank AG.

July 28, 2023. By Nivedita Ojha

Gautam Adani-led Adani Enterprises announced that its new RE venture raised a working capital loan of USD 394 million (INR 3,231 crore) from Barclays and Deutsche Bank AG for its integrated solar module manufacturing facility.

Adani New Industries Limited (ANIL) is developing a consolidated green hydrogen business, including solar modules and wind turbine manufacturing.

Adani Enterprises added, "Adani New Industries Limited (ANIL) ecosystem today raised trade finance facility of $394mn (Rs 3,231 Cr) from Barclays PLC and Deutsche Bank AG for securing working capital requirements of its integrated solar module manufacturing facility. ANIL, a wholly owned subsidiary of Adani Enterprises Ltd, is building an ecosystem of one of the largest integrated green hydrogen businesses, including solar modules and wind turbine manufacturing,".

Adani New Industries is set to become a powerhouse in the renewable energy sector as it expands its manufacturing capabilities. Apart from its ambitious plans for the green hydrogen ecosystem, ANIL aims to diversify its portfolio to include the production of solar modules, batteries, and electrolyzers.
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