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.
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.
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.