Adani Energy Secures $1 Billion Funding For Mumbai Green Energy Project

Ahmedabad:

Adani Vitality Options Restricted (AESL) on Monday introduced it was profitable within the monetary closure for its $1 billion inexperienced HVDC (high-voltage direct present) hyperlink venture, which is able to allow additional “greening” of the Mumbai Grid by supplying extra renewable energy to town.

“This hyperlink is the necessity of the hour for town and can help its development aspirations. It showcases our dedication to providing Mumbai a brighter and greener future. The venture will assist speed up town’s decarbonization and its web zero journey,” mentioned Anil Sardana, Managing Director, AESL.

The credit score facility is a part of the $700 million revolving venture finance facility tied up in October 2021 for its under-construction transmission belongings portfolio, the corporate mentioned in a launch.

“We want to categorical our honest appreciation to our banking companions for his or her continued help in finishing the transaction easily and for his or her endured religion and confidence in AESL,” Mr Sardana added.

The banking consortium for the platform infrastructure financing framework comprised 9 worldwide banks together with DBS Financial institution Ltd, Intesa Sanpaolo SpA, Mizuho Financial institution Ltd, MUFG Financial institution Ltd, Siemens Financial institution GmbH, Societe Generale, Commonplace Chartered Financial institution, Sumitomo Mitsui Banking Company and The Hong Kong Mortgage Company Restricted, it mentioned.

Adani Vitality Options Restricted (AESL) is the transmission and distribution enterprise arm of the Adani Portfolio.

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