Adani Green Energy planning to raise upto USD 12 bn via green bond sales: Report

Adani Green Energy  is reportedly planning sale  green bonds over the next four to five years to raise up to $12 billion. It will be used to fund Gautam Adani’s plan to make it the world’s biggest renewable energy player.

Green Buildings

According to ET this will be the country’s largest sale of green bond and it is expected to catalyse the country’s lacklustre green bond market in sync with the government’s focus on solar and wind energy.

Last year, the sale of global green bonds and loans rose 50 per cent to an estimated $255 billion, making it an attractive option for solar and wind energy companies.

Adani group CFO Jugeshinder Singh speaking to ET said “AGEL, with current issued bonds, planned issuance of under-development assets and committed pipeline of assets, will end up with close to $10 to 12 billion of green bonds over the next four to five years,”he added “This is consistent with our public commitment of 25,000 MW capacity by 2025.”

The  green bond sale likely to take place from May next year, with the company raising $2-3 billion annually. The green bond proceeds are mandated to be used to produce non-conventional energy.

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