Adani Green raises $200 million in Japanese Yen-denominated refinancing facility
The developer has refinanced its 350 MW of solar projects with a long-tenor debt facility of $200 million.
India installed 90.3 GW of utility-scale solar and wind as of June 30, 2022
Rajasthan leads in utility-scale solar capacity, accounting for 22% (10,635 MW) of cumulative 48,768 MW PV installations. Karnataka (7,662 MW) ranks second, followed by Maharashtra (5,263 MW).
Indian solar market leaders in 2021
ReNew Power was the top utility-scale solar developer in 2021, commissioning the largest amount of capacity. Tata Power Solar led in rooftop solar installations, accounting for 20% of total annual additions.
Adani Green Energy signs 4,667 MW of solar PPA with SECI
With this, the developer has signed the power purchase agreement for 5,534 MW out of the total 8 GW capacity won in the manufacturing linked solar tender by the Solar Energy Corporation of India.
Adani Green to buy Sterling & Wilson’s 75 MW Telangana solar assets
Adani Green Energy has signed an agreement with Sterling & Wilson to acquire its 75 MW of operating solar projects for around INR 446 crore. The projects are located in Telangana.
Adani Green to acquire Canadian developer SkyPower Global’s 50 MW solar asset in India
The Indian developer has signed an agreement with the Canadian developer to acquire its 50 MW Telangana solar project at an enterprise value of around INR 317 crore.
Adani Green Energy raises US$ 1.35 billion in debt funding
The developer has secured the revolving fund from 12 international banks. It would use the amount to initially finance its 1.69 GW hybrid portfolio of solar and wind projects to be set up in the Indian state of Rajasthan.
Total to acquire 20% stake in Adani Green Energy
The French oil and gas giant already owns half the stake in the Indian developer’s 2.3 GW operational solar assets in India through a joint venture.
Adani Group has the opportunity to lead India’s energy strategy
The Group’s renewable energy business (Adani Green Energy) has a market value of US$15.6 billion, which is 40% more than India’s largest thermal power generator NTPC—a company with 22 times as much capacity. The RE business is of serious global investor interest, but also materially exposed to the wider Group’s environmental, social and governance (ESG) standing. By committing to phased closure of coal plants, Adani Group could lower the risk to global capital access while aligning with the government’s vision for energy independence through fast-growing reliance on renewables.
Six Indian firms among top 36 in solar developer ranking
Acme Solar ranks eighth with 2.556 GW of cumulative generation capacity to date, and Adani Green Energy (2.421 GW) ninth in the list, which has First Solar and Canadian Solar on top. Azure Power, Tata Power, Greenko Energy and NTPC are the other Indian developers among the top 36.
