Adani Green Energy’s Hybrid Portfolio Project Details
Adani Green Energy is one of the largest renewable energy companies in the world. The company boasts a massive business portfolio of clean energy projects adding up to a whopping 14,815 MW of energy either in development or in operation.
The company recently made news for raising an incredible $1.35 billion debt package that will help fund a massive hybrid portfolio project in India. This new hybrid portfolio for the green energy business will generate 1.69 GW from both solar panels and wind turbines. The project will be set up in four different sites throughout Rajasthan, India. Furthermore, the project will bring the company another step closer to its ambitious goal of reaching over 25 GW of renewable energy output by 2025.
The debt package came from a major slew of financial businesses and banks, including Standard Chartered Bank, Intesa Sanpaolo S.p.A, MUFG Bank, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank U.A., DBS Bank Ltd., Mizuho Bank, Ltd., BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V. Each different business and bank played a specific role in ensuring the smooth transition of the debt package and consultation on energy yields and due diligence.
Adani Green Energy’s Ambitious Long-Term Goal
The green energy company has even larger goals than the creation of their 1.69 GW hybrid project. In fact, Adani Green Energy plans to continue to expand its own business until the company reaches 25 GW of energy output by 2025. The latest business project is another one of the 82 different locations under their solar, wind, and hybrid portfolio that has helped them save over 4 million metric tons of carbon emissions from being released.
When commenting on the recent debt package and the future of green energy business, CEO and Managing Director Vneet Jaain said, “We see this as yet another validation of our execution ability in the renewable space. We are committed to producing the least expensive green electron and the pace and scale we have embarked on puts us well ahead on this path. We believe that establishing depth and diversity in our funding resources is critical for AGEL's vision to become the largest renewable player in the world.”
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.