Adani Family To Infuse $1 Bn In Adani Green Energy For Expansion, Refinancing

Indian billionaire Gautam Adani and his family are likely to give the founders of Adani Green Energy preferential shares in exchange for a USD 1 billion investment. The change will assist the group in fulfilling the requirements for refinancing and expansion.

According to the reports, its board will convene on 26 December to discuss the fundraising options, which may involve selling shares or convertible securities. 

Adani Green plans to reach 45 gigawatts of renewable energy capacity by 2030. The company's bonds are set to mature for USD 1.2 billion in 2019. Repayment or refinancing of these obligations is already planned.

Its shares rose as much as 4.6 per cent on Thursday, joining a broader rally that also saw gains in other group companies. Earlier this month, the company secured a USD 1.36 billion loan from an international bank consortium to facilitate the expansion of its renewable power capacity.