Adani secures $394M Trade Finance for Solar Manufacturing Facility
POWER & RENEWABLE ENERGY

Adani secures $394M Trade Finance for Solar Manufacturing Facility

Adani New Industries, a wholly owned subsidiary of Adani Enterprises, has secured a trade finance facility amounting to $394 million from Barclays PLC and Deutsche Bank AG. The funds will be utilised to fulfil the working capital needs of their integrated solar module manufacturing facility.

Adani is actively building one of the largest integrated green hydrogen businesses, which includes the manufacturing of solar modules and wind turbines. To achieve this, the company is establishing a fully integrated 10 GW solar manufacturing ecosystem in Mundra, covering the entire process from polysilicon to module manufacturing, along with ancillaries and supporting utilities.

Presently, the company has a solar cell and module manufacturing capacity of 3.5 GW. In a significant milestone, Adani commenced the construction of a polysilicon and monosilane manufacturing facility in Mundra, Gujarat, making it the first company to do so as of December last year.

Adani Solar earned recognition as a top solar module supplier in India for the year 2022, securing 9 per cent of the total modules supplied during that period, according to Mercom's India Solar Market Leaderboard 2023.

Additionally, Adani Transmission, a business arm of the company engaged in electricity transmission, has undergone a name change and is now known as Adani Energy Solutions, effective from July 27, 2023.

Another subsidiary of Adani, Adani Green Energy, has ambitious plans to raise Rs 123 billion ($1.4 billion) through the sale of shares via qualified institutional placement or other permissible methods. The company intends to issue equity shares, each with a face value of Rs 10 ($0.12), along with other eligible securities or a combination thereof, with the total amount raised not exceeding Rs 123 billion ($1.4 billion) or its equivalent.

In March, US-based equity investment firm GQG Partners executed a substantial deal involving a series of secondary block trade transactions valued at Rs 154.46 billion ($1.87 billion) in Adani Portfolio companies. This included an investment of Rs 54.6 billion ($663.21 million) in Adani Enterprises for 38.7 million shares at a price of Rs 1,410.86 ($17.14) per share.

Moreover, in February, Adani Enterprises decided to return Abu Dhabi’s International Holding Company's AED 1.4 billion (~$381 million) investment into its three green energy-focused companies. The move was taken to safeguard the interests of its investors amidst market volatility and unforeseen circumstances, leading to the withdrawal of the completed transaction.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Adani New Industries, a wholly owned subsidiary of Adani Enterprises, has secured a trade finance facility amounting to $394 million from Barclays PLC and Deutsche Bank AG. The funds will be utilised to fulfil the working capital needs of their integrated solar module manufacturing facility.Adani is actively building one of the largest integrated green hydrogen businesses, which includes the manufacturing of solar modules and wind turbines. To achieve this, the company is establishing a fully integrated 10 GW solar manufacturing ecosystem in Mundra, covering the entire process from polysilicon to module manufacturing, along with ancillaries and supporting utilities.Presently, the company has a solar cell and module manufacturing capacity of 3.5 GW. In a significant milestone, Adani commenced the construction of a polysilicon and monosilane manufacturing facility in Mundra, Gujarat, making it the first company to do so as of December last year.Adani Solar earned recognition as a top solar module supplier in India for the year 2022, securing 9 per cent of the total modules supplied during that period, according to Mercom's India Solar Market Leaderboard 2023.Additionally, Adani Transmission, a business arm of the company engaged in electricity transmission, has undergone a name change and is now known as Adani Energy Solutions, effective from July 27, 2023.Another subsidiary of Adani, Adani Green Energy, has ambitious plans to raise Rs 123 billion ($1.4 billion) through the sale of shares via qualified institutional placement or other permissible methods. The company intends to issue equity shares, each with a face value of Rs 10 ($0.12), along with other eligible securities or a combination thereof, with the total amount raised not exceeding Rs 123 billion ($1.4 billion) or its equivalent.In March, US-based equity investment firm GQG Partners executed a substantial deal involving a series of secondary block trade transactions valued at Rs 154.46 billion ($1.87 billion) in Adani Portfolio companies. This included an investment of Rs 54.6 billion ($663.21 million) in Adani Enterprises for 38.7 million shares at a price of Rs 1,410.86 ($17.14) per share.Moreover, in February, Adani Enterprises decided to return Abu Dhabi’s International Holding Company's AED 1.4 billion (~$381 million) investment into its three green energy-focused companies. The move was taken to safeguard the interests of its investors amidst market volatility and unforeseen circumstances, leading to the withdrawal of the completed transaction.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000