Adani Green Energy secured 1.36 billion USD from the International Bank Consortium
Digital News Guru Business Desk: On December 5, Adani Green Energy Ltd. (AGEL) secured a fund of 1.36 billion USD from the consortium of the International Bank, announced by the company.
According to a stock exchange named Filing, to establish the solar and wind projects, the financing was bagan since 2021, and now, from this green loan, the funding is raised to 3 billion dollars.
The green loan is extended by the eight international banks, which are BNP Paribas, Sumitomo Mitsui Banking Cooperation, MUFG Bank, Societe Generale, Standard Chartered Bank, Cooperative Rabobank U.A., Intesa Sanpaolo S.PA., and DBS Bank Ltd. According to the statement given by the company, now, with the help of this new loan, Adani Green Energy Ltd. (AGEL) is going to develop their new project, Renewable Energy Park, at Khavda in Gujarat.
This park is going to be the largest renewable energy park in the world, according to the company, and they also said that this new project will help in generating 20 gigawatts of energy and will also help in achieving the target of 45 gigawatts of renewable energy by 2030, which currently is only 8.4 gigawatts. Today, the share price of Adani Group Company’s has also increased by up to 20% as the US agency found the allegations against Adani Group Company made by Hindenburg Research irrelevant.
About Adani Green Energy Ltd. (AGEL): Adani Green Energy Ltd. (AGEL) was founded by one of the leading businessmen in India, Gautam Adani, in 2015 under the Companies Act 2013. It is an Indian renewable energy company that has its headquarter in Ahmedabad, Gujarat. The company manages 5,290 megawatts of wind energy and solar energy.
The current Managing Director (MD) and Chief Executive Officer (CEO) of Adani Green Energy Ltd. is Vineet S. Jaain. The company is operating several power projects in various states of India, including Uttar Pradesh, Gujarat, Madhya Pradesh, Chhattisgarh, etc. The next project of Adani Green Energy Ltd. (AGEL) is to build the renewable energy park at Khavda, which will be capable of generating 20 gigawatts of energy.
What is green energy and its discussion in COP28: The green energy is a Renewable Energy which comes from zero emission sources that cause no harm to the natural environments and helps in fighting with global warming. Recently in Dubai, Conference of Party (COP 28) held on 30 November to 12 December.
In the conference, a pledge is signed to triple the target of renewable energy by 2030 which will decrease the demand of the fossil fuels. The pledge was signed by the 118 nations of the world but India and China did not sign the pledge yet.
Green energy or renewable energy is the need of the hour as climate change is becoming a serious problem of the world as the consequences of the climate change are- flood, drought, wildfires etc. But green energy is not harmful as it does not produce green house gas, which is one of the major reason behind the climate change. The Renewable Energy also helps to reduce the dependency on the fuel.
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