Adani Green Energy Secures $250M Foreign Currency Loan Post US DOJ Probe

Adani Green Energy Ltd has secured approximately $250 million through its first foreign currency loan since facing a US Department of Justice indictment, borrowing from four global banks to refinance existing debt as part of a broader strategy to reduce leverage. The loan, with an interest rate around 8.20% and a five-year tenor, comes amid a backdrop of strong operational performance, with a 42% year-on-year increase in sales and significant growth in renewable energy capacity, maintaining its position as India's largest renewable energy producer. Following regulatory clearance from SEBI that dismissed allegations by a US short-seller, the market responded positively, boosting the valuation of Adani firms. The conglomerate is also advancing with other financial moves, including bond issuances by Adani Enterprises. Concurrently, Adani Group's expansion in clean energy continues with the commissioning of a 408.1 MW renewable facility in Gujarat, contributing to its goal of reaching 45 GW capacity by 2030. Meanwhile, environmental regulatory changes proposed by the Indian government could facilitate the group's cement grinding plant project in Maharashtra by exempting standalone units from prior environmental clearances, despite local opposition over pollution concerns.