Adani's Renewable Unit secures $394 mn amidst Expansion Reevaluation
POWER & RENEWABLE ENERGY

Adani's Renewable Unit secures $394 mn amidst Expansion Reevaluation

Adani Enterprises, an Indian conglomerate, announced that its new renewable energy-focused unit has secured a working capital loan of $394 million from Barclays and Deutsche Bank AG. The loan will support the establishment of an integrated solar module manufacturing facility by Adani New Industries (ANIL), which is also engaged in developing green hydrogen businesses, including solar modules and wind turbine manufacturing.

This financing facility comes at a crucial time when the Adani group is reevaluating its expansion plans, which had been put on hold following a negative report from US-based Hindenburg Research earlier this year. Hindenburg Research had taken a short position in the conglomerate and released a report in January alleging improper use of tax havens and expressing concerns about the group's debt levels. This report significantly impacted investor confidence and resulted in a market value loss of nearly $147 billion for Adani companies.

Since then, the group's shares have partially recovered, but they still reflect a decline of approximately $100 billion in value compared to before the Hindenburg report. Adani Group vehemently denied the allegations and, in May, a panel appointed by the Supreme Court found no lapses in their operations.

Despite the challenges, there are positive signs indicating improving investor sentiment. Australian-listed investment firm GQG Partners and other investors have increased their stakes in Adani Group companies. Additionally, Adani Chairman Gautam Adani expressed confidence in the group's governance and disclosure standards, instilling further reassurance in the company's outlook.

Adani Enterprises, an Indian conglomerate, announced that its new renewable energy-focused unit has secured a working capital loan of $394 million from Barclays and Deutsche Bank AG. The loan will support the establishment of an integrated solar module manufacturing facility by Adani New Industries (ANIL), which is also engaged in developing green hydrogen businesses, including solar modules and wind turbine manufacturing.This financing facility comes at a crucial time when the Adani group is reevaluating its expansion plans, which had been put on hold following a negative report from US-based Hindenburg Research earlier this year. Hindenburg Research had taken a short position in the conglomerate and released a report in January alleging improper use of tax havens and expressing concerns about the group's debt levels. This report significantly impacted investor confidence and resulted in a market value loss of nearly $147 billion for Adani companies.Since then, the group's shares have partially recovered, but they still reflect a decline of approximately $100 billion in value compared to before the Hindenburg report. Adani Group vehemently denied the allegations and, in May, a panel appointed by the Supreme Court found no lapses in their operations.Despite the challenges, there are positive signs indicating improving investor sentiment. Australian-listed investment firm GQG Partners and other investors have increased their stakes in Adani Group companies. Additionally, Adani Chairman Gautam Adani expressed confidence in the group's governance and disclosure standards, instilling further reassurance in the company's outlook.

Next Story
Infrastructure Urban

IEEMA Targets over 2X Growth in Electronics Exports within 5 Years

The electrical and electronics manufacturing sector in India aims to more than double its exports to $25 billion over the next five years. Currently, the industry exports goods worth approximately $12 billion. The Indian Electrical & Electronics Manufacturers' Association (IEEMA) is focused on expanding market access globally and positioning India as a key hub for electrical and electronics manufacturing. At Elecrama 2025 in Greater Noida, industry representatives emphasized the growing global interest in India as a reliable energy solutions provider, driven by shifts in the international su..

Next Story
Infrastructure Urban

Kerala Secures Rs 1.53 Tn Investment Proposals at Investors' Summit

Kerala secured investment proposals worth Rs 1.53 trillion from 374 companies during the two-day Invest Kerala Global Summit 2025 (IKGS). The largest commitment, amounting to Rs 300 billion, came from the Adani Group. The summit, held on February 21-22, attracted significant interest from the information technology sector, with 24 companies planning expansions through an additional investment of nearly Rs 85 billion, creating around 60,000 new jobs. A total of 66 companies submitted expressions of interest (EoIs) for investments exceeding Rs 5 billion. The summit strengthened investor confid..

Next Story
Building Material

Artson Group, Malabar Cements Team Up for Boat Manufacturing in Kerala

Artson Group, a subsidiary of the Tata Group, has partnered with Malabar Cements, a public sector undertaking, to establish a boat manufacturing unit in Kochi. A Memorandum of Understanding (MoU) was signed during the Invest Kerala Global Summit, which concluded on Saturday, for the development of this Rs 3 billion project. The initiative aims to boost industrial growth in Kochi, with the Tata Group subsidiary expressing its commitment to investing in the region. Under the agreement, a boat manufacturing unit specializing in vessels under 100 tonnes will be developed on a seven-acre plot leas..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?