Adani's $409 million green bond attracts over $3 billion bids
ECONOMY & POLICY

Adani's $409 million green bond attracts over $3 billion bids

Adani Green Energy's recent green bond offer, totalling $409 million with an 18-year tenor, saw an overwhelming response, attracting bids exceeding $3 billion. The bonds, set to accrue interest from March 12, 2024, until March 12, 2042, carry a fixed rate of 6.7% and will be listed on the India International Exchange (INX).

Proceeds from this bond issuance are earmarked for redeeming Adani Green's $500 million, 6.25% senior secured notes issued in 2019. These bonds were collectively issued by Adani Green Energy (UP), Parampujya Solar Energy, and Prayatna Developer, all subsidiaries of Adani Green Energy.

This milestone follows Adani Green's successful issuance of a $750 million maiden senior green bond in 2021, reflecting investor confidence in the company's green initiatives and financial stability.

In December 2023, Adani Green announced plans to raise Rs 93.5 billion ($1.1 billion) through preferential issuance of warrants to its promoters, Ardour Investment Holding and Adani Properties, at a share price of Rs 1,480.75 (~$17.80) per share. The infusion aims to bolster the company's financial position, reduce debt, and accelerate capital expenditure to achieve its ambitious 45 GW renewable capacity target by 2030.

Simultaneously, the company secured a follow-on funding of a $1.36 billion senior debt facility in December 2023, expanding its construction financing framework to $3 billion since its initial project financing. This funding is instrumental in advancing the development of a 2,167 MW renewable energy park in Khavda, Gujarat.

In tandem with its financial achievements, Adani Green reported operationalising an additional 448.95 MW of solar power projects at Khavda through its wholly-owned step-down subsidiaries, Adani Green Energy Twenty-Four A and Adani Green Energy Twenty-Four B. With this development, the aggregate operational solar power capacity at Khavda reaches 1,000 MW, contributing to the company's total operational renewable generation capacity of 9,478 MW.

Power generated from these projects will be sold on March 5, 2024. In February, Adani Green also successfully operationalised an aggregate of 551 MW of solar projects at Khavda, further solidifying its position as a leading player in the renewable energy sector. ?

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Adani Green Energy's recent green bond offer, totalling $409 million with an 18-year tenor, saw an overwhelming response, attracting bids exceeding $3 billion. The bonds, set to accrue interest from March 12, 2024, until March 12, 2042, carry a fixed rate of 6.7% and will be listed on the India International Exchange (INX). Proceeds from this bond issuance are earmarked for redeeming Adani Green's $500 million, 6.25% senior secured notes issued in 2019. These bonds were collectively issued by Adani Green Energy (UP), Parampujya Solar Energy, and Prayatna Developer, all subsidiaries of Adani Green Energy. This milestone follows Adani Green's successful issuance of a $750 million maiden senior green bond in 2021, reflecting investor confidence in the company's green initiatives and financial stability. In December 2023, Adani Green announced plans to raise Rs 93.5 billion ($1.1 billion) through preferential issuance of warrants to its promoters, Ardour Investment Holding and Adani Properties, at a share price of Rs 1,480.75 (~$17.80) per share. The infusion aims to bolster the company's financial position, reduce debt, and accelerate capital expenditure to achieve its ambitious 45 GW renewable capacity target by 2030. Simultaneously, the company secured a follow-on funding of a $1.36 billion senior debt facility in December 2023, expanding its construction financing framework to $3 billion since its initial project financing. This funding is instrumental in advancing the development of a 2,167 MW renewable energy park in Khavda, Gujarat. In tandem with its financial achievements, Adani Green reported operationalising an additional 448.95 MW of solar power projects at Khavda through its wholly-owned step-down subsidiaries, Adani Green Energy Twenty-Four A and Adani Green Energy Twenty-Four B. With this development, the aggregate operational solar power capacity at Khavda reaches 1,000 MW, contributing to the company's total operational renewable generation capacity of 9,478 MW. Power generated from these projects will be sold on March 5, 2024. In February, Adani Green also successfully operationalised an aggregate of 551 MW of solar projects at Khavda, further solidifying its position as a leading player in the renewable energy sector. ?

Next Story
Infrastructure Urban

Minda to Buy 49% Stake in Flash Electronics

Minda Corporation announced on January 15, 2025, that it will acquire a 49 per cent stake in Flash Electronics for Rs 13.72 billion. This partnership aims to expand the product offerings of both companies by combining their existing portfolios to create a comprehensive range of electric vehicle (EV) solutions. Minda will acquire the 49 per cent equity stake for the stated amount, marking a significant step in its strategy to strengthen its position in the EV sector.""This partnership is a perfect fit for our long-term goals and will create substantial value for our customers and shareholders,"..

Next Story
Infrastructure Transport

RailMin Clarifies Misunderstanding Regarding Madurai-Tuticorin Project

On January 15, 2025, the Railway Ministry issued a clarification regarding comments made by Railway Minister Ashwani Kumar at a press event in Chennai on January 10. The clarification followed confusion created when Tamil Nadu Transport Minister SS Sivasankar denied claims that the state government opposed the Madurai-Tuticorin railway project.According to the ministry, the confusion arose due to background noise during the press interaction. When questioned about the Madurai-Tuticorin railway line, the minister mistakenly responded about the Dhanushkodi project instead.The Railway Ministry cl..

Next Story
Infrastructure Transport

CRS Approves Train Operations on Katra-Reasi Section

The Commissioner for Railway Safety (CRS) has authorised the operation of regular trains on the Katra-Reasi section of the Udhampur-Srinagar-Baramulla (USRBL) rail project in Jammu and Kashmir. Trains will be permitted to operate at speeds of up to 85 km/h on normal tracks and 15 km/h on loop lines, according to reports by Dipak Dash.For security reasons, trains will only run during daylight hours between Jammu and Srinagar, with separate boarding arrangements for Srinagar-bound passengers at Katra, involving enhanced security checks. Non-stop trains from cities like Delhi to Srinagar will not..

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