Adani Green Energy has raised $750m for renewable energy projects in India through the issuance of a green bond.
The company said the issuance was almost five times over-subscribed.
The bond was priced under a three-year issuance under the 144A/Reg S format at a fixed coupon of 4.375%.
Funds shall be utilised towards equity funding of the capex for underlying renewable projects under construction.
Adani Green Energy chief executive Vneet S Jaain said: “The 4.7X oversubscription of this issuance is testimony of the confidence of global investors in the world’s fastest growing renewable energy platform and Adani’s capability to set up a world class clean energy business.
“This ListCo senior green bond issuance is yet another landmark transaction for AGEL and fully funds our pipeline of projects and reinforces our commitment towards being a sustainability focused global infrastructure platform.
“We expect to further accelerate our footprint and are firmly on track to become the world’s largest renewable energy company by 2030.”