AGEL Rajasthan and Emerald 3 Solar PV plants

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This project comprises the development of a 500 MW solar PV plant in Rajasthan with a signed long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), and a 250 MW solar facility in Gujarat, which is planned to sell the produced electricity on the merchant energy market. Total investment stands at $555 million, of which $400 million loan with 6-year tenor is provided by a consortium of banks, including Cooperative Rabobank U.A., DBS Bank Ltd., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation with $90 million contribution each, and Intesa Sanpaolo S.p.A. with $40 million support. Sponsors of the project are TotalEnergies and Adani Green Energy. Financial closure is achieved on May 2, 2024. https://www.adanigreenenergy.com/en/newsroom/media-releases/adani-green-secures-usd-400-million-from--international-banks-for-750-mw-power-projects ; https://x.realfin.com/transaction/255981/agel-rajasthan-500mw-emerald-3-250mw-solar-pv-plants https://www.adanigreenenergy.com/en/newsroom/media-releases/adani-green-secures-usd-400-million-from--international-banks-for-750-mw-power-projects ; https://x.realfin.com/transaction/255981/agel-rajasthan-500mw-emerald-3-250mw-solar-pv-plants