RSEPL Hybrid One Limited ( RHPOL )

Rajasthan Solar and Wind Portfolio - Additional Financing

Industry
Power/PV solar
Area of finance
Project & Infrastructure Finance
Region
Asia
Countries
India

Deal Overview

Adani Green has raised $288 million in additional financing for its under-construction 1.96GW hybrid solar and wind projects in Rajasthan. Currently under construction in the heart of the Thar Desert near Jaisalmer, the hybrid portfolio is one of Asia’s largest revolving project finance...

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Adani Green has raised $288 million in additional financing for its under-construction 1.96GW hybrid solar and wind projects in Rajasthan. Currently under construction in the heart of the Thar Desert near Jaisalmer, the hybrid portfolio is one of Asia’s largest revolving project finance deals.

The additional facility is expected to help finance 450MW of renewables projects. The facility extends Adani’s construction financing framework to $1.64 billion, from the original revolving financing facility of $1.35 million that closed in March 2021.

This new certified green hybrid project loan - Adani Green's first to be priced using the SOFR benchmark - is being provided by a consortium of international commercial banks including BNP Paribas, Rabobank, Intesa Sanpaolo, MUFG, Societe Generale, Standard Chartered and Sumitomo Mitsui. All banks were joint mandated lead arrangers for the facility.

Standard Chartered acted as bookrunner, documentation bank and E&S co-ordinator, while MUFG and Sumitomo Mitsui also acted as bookrunners, co-technical advisors and co-green loan advisors.

Among other partners Latham & Watkins and Saraf & Partners provided legal counsel to the borrowers, while Linklaters and Cyril Amarchand Mangaldas acted for the lenders.

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Deal Volume
$ 288m
Financial Close
22 March 2022
Sources

All Dealmakers

Tranches


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Projects

Rajasthan Solar and Wind Portfolio

Greenfield
PV solar
Asia
India
$ 1.35bn