Adani Transmission raises $700 mn to fund assets under construction
POWER & RENEWABLE ENERGY

Adani Transmission raises $700 mn to fund assets under construction

Adani Transmission (ATL), India's largest private-sector power transmission and retail distribution company, raised $700 million through definitive agreements with eight leading global lenders, including Mizuho Bank and Standard Chartered Bank, for its under-construction assets.

The company said on Thursday that ATL will use the facility to fund four transmission projects in Gujarat and Maharashtra.

Anil Sardana, MD, ATL told the media that the Adani Group's overall development model is validated by this project financing deal, which is the first of its kind sanctioned by international banks in the transmission sector.

To honour the nation's commitment to climate change, all Adani Group companies have aligned their investment plans.

Adani Transmission announced on May 16 that it plans to raise $1.15 billion in offshore loans to fund at least four projects in Gujarat and Maharashtra. The proposed loans were likely to be syndicated by at least four banks, including Standard Chartered, MUFG, Barclays, and JPMorgan.

To be sure, DBS Bank, Intesa Sanpaolo S.p.A., Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Société Générale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. will all be offering the facility.

According to ATL, this strategic transaction will meet the banks' capital recycling needs while also making the same capital available for current and future projects.

Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India.

The company operates a total network of 12,200 circuit km as of July 2020, with more than 3,200 circuit km in various stages of construction.

Image Source


  Also read: Adani Transmission plans to raise $1.15 bn to finance projects

Adani Transmission (ATL), India's largest private-sector power transmission and retail distribution company, raised $700 million through definitive agreements with eight leading global lenders, including Mizuho Bank and Standard Chartered Bank, for its under-construction assets. The company said on Thursday that ATL will use the facility to fund four transmission projects in Gujarat and Maharashtra. Anil Sardana, MD, ATL told the media that the Adani Group's overall development model is validated by this project financing deal, which is the first of its kind sanctioned by international banks in the transmission sector. To honour the nation's commitment to climate change, all Adani Group companies have aligned their investment plans. Adani Transmission announced on May 16 that it plans to raise $1.15 billion in offshore loans to fund at least four projects in Gujarat and Maharashtra. The proposed loans were likely to be syndicated by at least four banks, including Standard Chartered, MUFG, Barclays, and JPMorgan. To be sure, DBS Bank, Intesa Sanpaolo S.p.A., Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Société Générale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. will all be offering the facility. According to ATL, this strategic transaction will meet the banks' capital recycling needs while also making the same capital available for current and future projects. Adani Transmission Limited, headquartered in Ahmedabad, India, is a power transmission company. It is currently one of the largest private-sector power transmission companies in India. The company operates a total network of 12,200 circuit km as of July 2020, with more than 3,200 circuit km in various stages of construction. Image Source  Also read: Adani Transmission plans to raise $1.15 bn to finance projects

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

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