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Adani Green Energy Limited (AGEL) has fully redeemed its $750 million 4.375% Holdco Notes due September 8, 2024, the company announced today. The redemption was completed through a fully funded reserve account established in January 2024, eight months prior to the maturity date.
The shares of Adani Green Energy Limited (AGEL) were trading at ₹1,863.95 up by ₹0.65 or 0.03 per cent on the NSE today at 10 am.
The notes, issued in September 2021, supported AGEL’s growth objectives, during which time the company’s capacity increased from 3.5 GW to 11.2 GW. AGEL stated that its capital management plan now allows for a “seasoned” portfolio with a superior operational asset base.
The company’s overall capex program remains fully funded through operational asset cashflows and available construction facilities. Additionally, AGEL’s promoters agreed in December 2023 to subscribe to a preferential warrant amounting to ₹9,350 crore, with ₹7,013 crore available for accelerated capital expenditure requirements.
AGEL reaffirmed its target of achieving 50 GW of renewable energy capacity by 2030, in line with India’s decarbonization goals.
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