Adani Green Raises $1.06 Billion To Refinance Rajasthan Hybrid Project

Adani Green Energy Ltd (AGEL) has successfully refinanced its maiden construction facility, a $1.06 billion loan taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan. The long-term financing raised for this refinancing has a door-to-door tenure of 19 years with a fully amortized debt structure that aligns with the asset's lifecycle.

With this, AGEL has completed its capital management program for the underlying asset portfolio. This program involves securing long-term facilities that are well-aligned with the cash flow lifecycle of the portfolio. The framework provides significant benefits by offering deep access to diverse capital pools, enabling AGEL to secure large amounts of funding with extended durations.

Key Focus of the Project

Some of the key focus areas of the AGEL project include refinancing its maiden construction facility and developing a solar-wind hybrid renewable cluster in Rajasthan. This long-term financing has a 19-year door-to-door tenure with a fully amortized debt structure, which is perfectly aligned with the cash flow cycle of the underlying asset portfolio. This initiative has been a key driver of AGEL’s sustained expansion and is crucial to achieving its long-term objectives.

Adani's Rajasthan Hybrid Project

Adani has expedited its commissioning process at Khavda. Adani Green Energy Twenty Five A Limited, a subsidiary of the Adani Green Energy, recently operationalized an incremental 275 MW of solar power project at Khavda, Gujarat.

company's latest announcement follows the commissioning of Adani's 250 MW last week. It has also stated in a regulatory filing, “With commissioning of this plant, AGEL’s total operational renewable generation capacity has increased to 12,258.1 MW.”  In 2025, Adani has expedited the process to operationalize its renewable energy projects. Most of these projects were located in Khavda, Gujarat or Rajasthan.

In February itself, Adani Green Energy Twenty Six B Limited, a subsidiary of Adani Green, has operationalized a 67 MW solar power project at Khavda, Gujarat. The company said in a regulatory filing, “With the commissioning of this plant, AGEL’s total operational renewable generation capacity has increased to 11,983.1 MW.”