The shares of Green Energy company, primarily focused on generating clean energy through solar, wind, and hybrid power projects, are in focus after successfully refinancing its USD 1.06 Billion Construction Facility with Long-Term Financing.
Price action
With a market capitalization of Rs. 1,23,768.38 crores on Tuesday, the shares of Adani Green Energy Limited declined upto 3.3 percent, making a low of Rs. 777.60 per share compared to its previous closing price of Rs. 804.50 per share.
What Happened
Adani Green Energy Ltd (AGEL) engaged in generating clean energy through solar, wind, and hybrid power projects has successfully refinanced its USD 1.06 billion Construction Facility, initially secured in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan. The new long-term financing spans 19 years with a fully amortized debt structure emulating the underlying asset life.
With this breakthrough, the company has completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio. The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.
About the company
Adani Green Energy Ltd (AGEL) is India’s largest and one of the leading renewable energy companies in the world enabling the clean energy transition. AGEL develops, owns, and operates utility scale grid-connected solar, wind, hybrid and hydro pumped storage renewable power plants.
Future Outlook
AGEL currently has an operating renewable portfolio of 11.6 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals and focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling large-scale adoption of affordable clean energy.
Renewable Energy Portfolio
The company’s renewable energy portfolio stands at a total capacity of 11.6 GW, with 67 percent (7.77 GW) from solar, 15 percent (1.74 GW) from wind, and 18 percent (2.09 GW) from hybrid.
Financials
The company’s total revenue declined by 1.68 percent from Rs. 2,675 crore to Rs. 2,630 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 256 crore to Rs. 492 crore during the same period.
Written by Sridhar
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