{"id":30240,"date":"2022-03-21T12:46:02","date_gmt":"2022-03-21T07:16:02","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-agel-funding\/"},"modified":"2022-03-21T13:38:47","modified_gmt":"2022-03-21T08:08:47","slug":"biz-agel-funding","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-agel-funding\/","title":{"rendered":"AGEL raises USD 288 million for RE projects"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2811957031\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Mar 21 (PTI) Adani Green Energy has raised USD 288 million (about Rs 2,188 crore ) for the construction of its renewable energy projects.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2235205706\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>&#8220;Adani Green Energy Ltd (AGEL) has extended its Construction Financing Framework to USD 1.64 billion by raising a USD 288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders,&#8221; a company statement said.<\/p>\n<p>The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that AGEL is setting up in Rajasthan. In March 2021, AGEL had closed a USD 1.35 billion construction revolver facility in one of Asia\u2019s largest project financing deals, it added.<\/p>\n<p>According to the definitive agreements, seven international banks \u2013 BNP Paribas, Cooperatieve Rabobank UA, Intesa Sanpaolo S.p.A., MUFG Bank Ltd, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation \u2013 committed for the facility, which is a certified green hybrid project loan.<\/p><div class=\"trade-content_5\" id=\"trade-3180538117\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The extended pool of liquidity strengthens AGEL\u2019s strategy to fast-track the development of its under-construction asset portfolio in sync with accelerating the energy transition.<\/p>\n<p>&#8220;The construction facility is the key ingredient of AGEL\u2019s capital management plan, enabling us to deliver on our focus on decarbonising power generation,&#8221; said Vneet S Jaain, MD and CEO, AGEL, in the statement.<\/p>\n<p>AGEL has set a target of achieving 45 GW renewable energy capacity by 2030, representing 10 per cent  of India&#8217;s 450GW countrywide renewable energy target.<\/p>\n<p>Standard Chartered Bank acted as mandated lead arranger, bookrunner (MLAB), documentation Bank and E&#038;S co-ordinator bank.<\/p>\n<p>MUFG Bank and Sumitomo Mitsui Banking Corporation acted as MLABs, jointly acted as co-technical advisors and co-green loan advisors.<\/p>\n<p>BNP Paribas, Cooperatieve Rabobank, Intesa Sanpaolo and Societe Generale acted as MLABs for the facility.<\/p><div class=\"trade-content-10\" id=\"trade-3552824084\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Among other partners, Latham &#038; Watkins LLP and Saraf &#038; Partners were the borrower\u2019s counsel. The lenders&#8217; counsels were Linklaters and Cyril Amarchand Mangaldas. PTI KKS  BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-1882404598\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 21 (PTI) Adani Green Energy has raised USD 288 million (about Rs 2,188 crore ) for the construction of its renewable energy projects. &#8220;Adani Green Energy Ltd (AGEL) has extended its Construction Financing Framework to USD 1.64 billion by raising a USD 288 million facility for its under-construction renewable asset portfolio through [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-30240","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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