This would be among the 20 most significant major currency loans in the Asian region this year and boost Adani’s solar and wind projects, which are making waves in the renewable energy sector
In a significant development in the world of renewable energy, Adani Green Energy, the renewable energy subsidiary of the Adani Group, is actively engaged in discussions with foreign lenders to secure a substantial loan of up to $1.8 billion, according to exclusive reports from Bloomberg News.
Sources familiar with the matter have revealed that Adani Green Energy is in talks with prominent global financial institutions, including Deutsche Bank, Standard Chartered Plc, Barclays Plc, BNP Paribas SA, First Abu Dhabi Bank PJSC, and Rabobank. These discussions mark a significant step towards bolstering the conglomerate's ambitious green energy plans.
The primary objective of this substantial loan is to facilitate the expansion of solar and wind projects undertaken by Adani Green Energy. Should the agreement be finalised before the end of the year, it can potentially become one of the 20 most significant major currency loans in the Asian region for the current year, as indicated in the report.
The Adani Group, led by Gautam Adani, has been actively seeking financial backing to the tune of $4 billion for their green hydrogen initiatives. This effort underscores their commitment to the transition to cleaner energy sources.
In a recent development highlighting Adani Green Energy's growing influence in the sector, French oil major TotalEnergies announced a $300 million investment in collaboration with Adani Green Energy to establish renewable energy capacities in India. This partnership marks a significant milestone and comes on the heels of allegations made by U.S. short-seller Hindenburg Research, which accused the Adani Group of wrongdoing.
The Adani Group's strategic moves in renewable energy continue to draw international attention, positioning it as a major player in the global transition to sustainable energy sources.