Adani Green Energy share price opens higher after THIS refinancing update. Do you own?

Adani Green share price opened in the green in Monday's trading session after the company announced that it has successfully refinanced its maiden Construction Facility with outstanding of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan, achieving a major milestone in its Capital Management Journey.

However, the stock failed to sustain at the higher levels and entered the red zone amid profit taking in the counter. At 9:55 am, the stock fell over 1.65 per cent to touch an intraday low of ₹762.90.

Adani Green's refinance details

According to the exchange filing, the long-term financing raised to refinance its Construction Facility has a door-to-door tenor of 19 years with a 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,” the company said in the filing.

Adani Green stated that the program's framework offers substantial advantages by enabling access to diverse capital sources, ensuring large-scale funding with extended durations.

"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," Adani Green said.

The Adani Group company stated that the refinancing facility has been assigned an AA+/Stable rating by three domestic rating agencies—ICRA, India Ratings, and CareEdge Ratings.

AGEL is engaged in the development, ownership, and operation of large-scale grid-connected renewable power plants, including solar, wind, hybrid, and hydro-pumped storage projects. With an operational renewable energy capacity of 12.2 GW—the largest in India—spanning 12 states, the company aims to expand its portfolio to 50 GW by 2030, in line with India’s decarbonization objectives.

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