Adani Green Energy Ltd (AGEL), the renewable energy arm of the Adani Group, has won the Global Sponsor of the Year award from Project Finance International (PFI). The global award recognizes AGEL as a key driver of energy transition that works for 45GW of renewable energy generation capacity by 2030.
Adani Green Energy Limited (AGEL) is a part of India-based Adani Group that has one of the world’s largest renewable portfolios, with locked-in growth of 20.3 GW across operational, under-construction, awarded and acquired assets, catering to investment-grade counterparties.
The company is responsible to develop, build, own and operate utility-scale grid-connected solar and wind farm projects. GEL added 5GW of operational and development projects to its portfolio through a USD 3.5 Bn acquisition this year, buying SB Energy India from SoftBank Group and Bharti.
AGEL also signed the world’s largest ever renewables PPA for 4.67GW capacity in December and become committed to deliver 1.5GW of new solar cells and modules manufacturing capacity in India with a capacity of 2GW per year by FY2022-23.
AGEL has raised huge sums of project finance debt and refinanced assets with US dollar bond issuances- It has devised an innovative and flexible debt structure to project-finance construction of a 1.69GW portfolio of three hybrid (solar and wind) projects in Rajasthan, pathfinder projects for improving the issue of intermittency in renewables and generated funds to its ascent to 25GW by 2025, AGEL raised USD 750 Mn through bond issuance in September. “This is an encouraging recognition of our commitment and our multi-pronged approach to drive the energy transition through development and operation of renewable generation capacity of 45 GW by 2030,” said Mr. Vneet S. Jaain, MD & CEO, AGEL. "PFI’s recognition is testament to our continued focus on delivering on our business plan including our capital management program.”
