Adani New Industries raises $394 million from Barclays, Deutsche Bank


Adani New Industries Ltd (ANIL), an arm of Adani Enterprises Ltd, announced this week it has raised a trade finance facility of $394 million (INR 3,231 crore) from Barclays and Deutsche Bank AG. The amount raised will meet the working capital requirements of its integrated solar module manufacturing facility

ANIL, strategically located at Mundra SEZ, the integrated Green H2 hub, is building one of the largest integrated green hydrogen ecosystems, spanning supply chain products manufacturing, green hydrogen generation, and downstream products (ammonia and urea). 

Aiming for end-to-end supply chain control, it will manufacture key components and materials for RE projects, including polysilicon, ingots, wafers, PV cells and modules, wind turbine generators, electrolyzers, and ancillary items. 

In solar, ANIL plans full backward integration starting from silicon till modules. It targets MG silica capacity of 35 ktpa, polysilicon 30 ktpa, ingot/wafer 10 GW, cells 10 GW, and modules 10 GW by 2025.

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