Adani Green Share Price Soars After Securing $400 Million Funding for Solar Projects
๐ Adani Group’s company, Adani Green Energy Limited, has secured $400 million in funding for its 750 megawatt solar project in Rajasthan and Gujarat. The project is expected to start in November 2024 and has been financed by a consortium of five international banks.
๐ At 9:18 am, Adani Green Energy Limited’s shares were trading at โน1,818.60, up by 1.78%. Over the past six months, the company’s share price has increased by over 100%.
๐๏ธ One of the major projects being developed by Adani Group is in Rajasthan, with a total capacity of 500 megawatts. The project has a long-term power purchase agreement with the Indian Solar Energy Corporation. Additionally, a project in Kevadia, Gujarat, with a total capacity of 250 megawatts is also underway.
๐ฆ The five banks providing the loan include Corporate Rabobank U.A., DBS Bank Limited, Intesa Sanpaolo S.p.A, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
๐ก After securing the loan, the company stated that this was a significant achievement for the Indian renewable energy sector. Currently, Adani Green Energy Limited’s operational portfolio includes 7393 megawatts of solar plants, 1401 megawatts of wind plants, and 2140 megawatts of wind-solar hybrid plants.
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