Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Adani Green Secures Rs 9,222 crore Refinancing for Wind-Solar Hybrid Projects

Adani Green Energy Ltd (AGEL) has successfully completed a long-term refinancing of Rs 9,222 crore for its wind-solar hybrid projects in Rajasthan. This marks a significant financial milestone, ensuring the smooth development and expansion of renewable energy in the region. The refinancing is structured as a 19-year fully amortized debt facility, aligning with the cash flow lifecycle of the project. This move enables AGEL to tap into diverse capital sources, securing substantial funding for extended durations.

The original loan facility, secured in 2021, played a crucial role in the establishment of Rajasthan’s wind-solar hybrid cluster, a key part of India's renewable energy push. AGEL currently operates a renewable energy portfolio of 12.2 GW spread across 12 states, reinforcing its leadership in India’s clean energy transition. Beyond Rajasthan, the company is undertaking an ambitious 30 GW renewable energy project in Khavda, Gujarat, covering an extensive area of 538 sq km. With a long-term goal of reaching 50 GW renewable capacity by 2030, AGEL is aggressively expanding its footprint in the sector.

In 2024, AGEL secured a Rs3,480 crore green loan from a consortium of five international banks for two under-construction solar projects—one with a 500 MW capacity in Rajasthan developed with the Solar Energy Corporation of India (SECI), and another 250 MW merchant power project in Khavda, Gujarat. These financial arrangements reflect growing investor confidence in AGEL’s ability to scale up its clean energy capacity while maintaining financial stability.

Financially, AGEL continues to demonstrate strong performance. In Q3 of the financial year 2025, the company recorded an 84% year-over-year increase in net profit, reaching Rs47,241 crore in the previous year. This growth is attributed to increased project execution, higher energy sales, and efficient cost management.

AGEL’s rapid expansion has positioned it as a market leader in utility-scale solar development. According to Mercom’s India Solar Market Leaderboard for the first half of 2024, the company held the highest market share at 29.3%, reinforcing its dominance in the sector. Additionally, solar debt financing activities surged, with Rs1,45,290 crore raised across 68 deals—reflecting a 4% increase from the Rs13900 crore secured in 54 deals during the same period in 2023.

With its strategic refinancing, expanding portfolio, and robust financial performance, AGEL continues to solidify its role as a key player in India's renewable energy transition. Its success in securing long-term capital and developing large-scale hybrid projects underscores the accelerating shift toward clean energy, both in India and globally.