Ahmedabad (Gujarat) [India], March 3 (ANI): Adani Green Energy Ltd (AGEL), India's largest renewable energy company, announced on Monday that it has achieved another milestone in its Capital Management Journey.

The company stated that it has successfully refinanced its maiden Construction Facility with outstanding of USD 1.06 billion taken in 2021 to develop India's largest solar-wind hybrid renewable cluster in Rajasthan.

It also highlighted that the long-term financing raised to refinance its Construction Facility has door-to-door tenor of 19 years with fully amortized debt structure emulating the underlying asset life.

With this breakthrough, AGEL has successfully completed its capital management program for the underlying asset portfolio, which involves securing long-term facilities that are perfectly aligned with the cash flow lifecycle of that portfolio.

The framework of this program provides significant benefits through deep access to diverse pools of capital, securing large sums with long duration.

This approach not only enhances financial stability but also ensures AGEL's ability to continue its growth trajectory and deliver sustainable value creation to its stakeholders.

On the back of the strong operational performance track record, the company also added that the facility has been rated AA+/stable by three domestic rating agencies. The refinancing facility has received a rating of AA+/Stable from three domestic rating agencies--ICRA, India Ratings, and CareEdge Ratings.

This breakthrough serves as completion of the capital management program for the underlying asset portfolio. This strategic program has proven to be the main catalyst for AGEL's sustained growth and is vital to achieving its long-term growth objectives.

Adani Green Energy Ltd is India's largest and one of the leading renewable energy companies in the world enabling the clean energy transition. AGEL develops, owns, and operates utility scale gridconnected solar, wind, hybrid and hydro pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 12.2 GW, the largest in India, spread across 12 states.

The company has set a target of achieving 50 GW by 2030 aligned to India's decarbonization goals. AGEL is focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling largescale adoption of affordable clean energy. (ANI)