Riya Sharma 
Adani Green Energy is currently in talks with some of the most reliable Indian banks to acquire 2 to 2.5 billion USD as funding. This funding will be spent over the next 6 to 8 months to increase the group’s green energy capacity. This reflects the extraordinary plans that the Adani Group has for the green energy sector. It will help us ramp up the country’s green energy capacity. We will also be able to make a sharp transition from non-renewable to renewable energy sources in the upcoming years. The allegations centred around the Adani Investigation will subside.
Adani Green Energy In Talks To Acquire Funds From Renowned Indian Banks
Adani Green Energy is currently in talks with Indian banks, both private and state-owned, to acquire funding of 2 to 2.5 million USD. These funds will be spent over the next
few months to enhance the group’s renewable energy capacity. Over the last few months, the Adani group has maintained an annual run rate of 3 to 4 GW capacity. It now has elaborate plans to increase the speed so that it is easily able to reach its targeted capacity of 50 GW by 2030. For that, it is planning to add 7 to 8 GW annually to its existing capacity over the next few years.
By 2029, the Adani Group aims to cross the 30 GW mark from 2.4 GW now at the Khavda renewable energy park in Gujarat. This is a massive renewable energy project consisting of solar and wind farms. In fact this is the largest renewable energy park in the entire world. The renewable energy park is so big that it is visible even from space. It is five times the size of Paris. In the current fiscal year, the Adani Group has added a little over 3 GW to its current capacity. It is expected to end the year with a total capacity addition of around 5 GW.
At the end of December 2024, the company had a portfolio close to 12 GW. The Adani Green Energy Chief Executive Officer Amit Singh has mentioned that the company will make sure that it increases its run rate from this year to next year by a significant amount. Because of the strong financial performance, the Adani Group will be able to win the trust of the investors post the controversies of Adani Investigation.
Why Acquire Funding from Indian Banks?
As per reliable sources, the cost of borrowing overseas and from international banks has increased significantly over the past few months. This is why the company is currently looking for support from Indian banks to further enhance its funding requirements. It is planning to tie up with a consortium of domestic banks shortly. Last May, the Adani Group had secured 400 million USD from 5 International banks. This was for its under-construction 750 MW of solar projects in Gujarat and Rajasthan. To increase the speed of execution of its various projects, the management mentioned in its quarterly earnings call that it is planning on extending its relationship with various solar module suppliers both domestically as well as internationally.
Adani Group’s Current Green Energy Assets
The company’s green energy assets are currently spread across Tamil Nadu, UP, MP, Karnataka, Andhra Pradesh, Chhattisgarh, Rajasthan, Maharashtra and Gujarat. It has plans to increase its capacity in the upcoming years as well. This will ensure that our country’s growing energy demands are met. We will also be able to make a quick translation from non-renewable to renewable energy sources. We will no longer have to remain dependent on expensive fuel. Industrial activities can be triggered in the country. The Adani Group will also be able to further increase its renewable energy capacity.
Conclusion
The Adani Group is already quite well known for its elaborate presence in the green energy sector. Even amidst the ongoing Adani Investigation, the global business group has taken up multiple projects in this particular business sector. By acquiring funds from Indian banks, the global conglomerate will be able to give an excellent push to its renewable energy business. It will also be able to ensure that India can extend its presence in the renewable energy sector.
