By Mathew Carr

Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, priced its maiden ListCo senior issuance of $750 million through a 3 year issuance at a fixed coupon of 4.375%.

The issuance was oversubscribed by 4.7 times.

This issuance establishes AGEL as one of India’s leading credits in the renewable sector.

AGEL has completed the final phase of its capital management plan, and now has a fully funded program for both debt and
equity for its stated target of 25 GW by 2025.

On LinkedIn I asked Adani group CFO Robbie Singh will Adani become more ambitious following the hot demand:

“Given the strong demand …why not raise your 2025 and 2030 targets? That is — build even more green stuff ? Don’t you have the capacity to do so?” I asked.

“Very likely,” was Singh’s response.