Adani New Industries Ltd (ANIL), a subsidiary of Adani Enterprises, has raised $394 million in trade finance facility from Barclays Plc and Deutsche Bank for working capital requirement of its solar module manufacturing facility., the company said.
The company said that it was building an ecosystem of one of the largest integrated green hydrogen businesses, that included solar modules and wind turbine manufacturing.
ANIL was set up last year to act as a holding company for the end-to-end supply chain of new energies and emerging technologies within Adani Enterprises. Under this company, the capacity of the solar manufacturing unit was at 4 GW in FY23. The subsidiary also installed a 5.2 MW wind turbine prototype in Mundra.
ANIL will be investing $50 billion over 10 years in the green hydrogen ecosystem to produce up to 3 million tonnes per annum of green hydrogen. In the initial phase, the company plans to develop green hydrogen production capacity of up to 1 mtpa.