Adani Green Energy Limited (AGEL), India’s leading renewable energy company, has announced the development of the country’s largest solar-wind hybrid renewable cluster in Rajasthan. The project is being financed through a $1.06 billion refinancing deal, which marks a significant step in India’s transition towards clean energy.
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A Major Boost for Renewable Energy in India
AGEL successfully refinanced its construction facility for the project, originally secured in 2021. The new long-term financing structure features a fully amortized debt plan with a 19-year door-to-door tenor. This move is expected to enhance AGEL’s financial stability while enabling the company to scale up its renewable energy portfolio.
“The refinancing strengthens our commitment to India’s renewable energy goals and supports the development of large-scale sustainable energy solutions,” said an AGEL spokesperson.
Key Features of the Hybrid Renewable Cluster
The solar-wind hybrid cluster in Rajasthan is expected to play a crucial role in India’s renewable energy landscape. It will integrate solar and wind power generation, optimizing resource utilization while ensuring stable electricity supply. The hybrid model is designed to address intermittency issues that often affect standalone renewable energy sources, thereby improving grid stability.
The cluster will be part of AGEL’s broader strategy to develop an integrated green energy ecosystem with a total renewable capacity of 45 GW by 2030.
Adani Green Energy’s Expanding Footprint
AGEL is already a leader in India’s renewable energy sector. The company recently surpassed an operational renewable energy capacity of 12,000 MW, making it the first Indian renewable firm to achieve this milestone. Its portfolio includes:
- 1.8,347.5 MW of solar energy
- 2.1,651 MW of wind energy
- 3.2,259.6 MW of wind-solar hybrid projects
The company has been instrumental in setting up some of the world’s largest renewable energy projects, including the 2,140 MW wind-solar hybrid power cluster in Jaisalmer, Rajasthan.
Adani Group’s Massive Investment in Rajasthan
In addition to renewable energy, the Adani Group has committed to investing ₹7.5 trillion ($88.53 billion) in Rajasthan. This investment will support infrastructure, renewable energy projects, and the establishment of four new cement plants with a combined capacity of 6 million tonnes per annum. The group’s goal is to develop the world’s largest integrated green energy ecosystem, with 100 GW of renewable energy capacity.
India’s Push for Clean Energy
The Indian government has been aggressively promoting renewable energy, aiming for 500 GW of non-fossil fuel capacity by 2030. Adani Green Energy’s latest project aligns with these national goals, contributing to India’s decarbonization efforts and reducing dependence on fossil fuels.
Industry experts believe that hybrid renewable projects, such as AGEL’s initiative in Rajasthan, will be key to achieving sustainable energy security for the country.
With its latest investment and refinancing strategy, Adani Green Energy is reinforcing its position as a leader in India’s clean energy transition. The Rajasthan hybrid cluster is set to become a landmark project, pushing India closer to its renewable energy goals while ensuring economic and environmental sustainability.
By – Kartik
