Adani Group plans to raise $4 -5 billion for its projects in Khavda and Mundra in Gujarat in the next few months, said sources familiar with the matter.
Adani is building a 30 GW renewable energy park in Khavda, Gujarat, which will be the largest renewable energy park in the world. The plant will produce 26 GW of solar energy and 4 GW of wind energy.
“The fundraise is through mixture of debt and equity,” said sources, adding that most of the fundraising will be done by Adani Green Energy (AGEL).
“AGEL has an annual capex outlay of $4 to 5 billion every year. They will invest in Khavda for its solar and wind project,” sources said. AGEL plans to deliver 50 GW of renewable energy by 2030.
An email sent to a Adani spokesperson did not elicit any response.
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The firm plans to commission wind and solar energy projects of 5 to 7 GW every year in Khavda, source said.
AGEL on Sunday operationalised 480.1 MW renewable energy projects at Khavda, taking its total operational RE capacity to 14,217.9 MW.
Recently, Adani Green raised $1.06 billion to refinance a 2021 debt facility for a renewable energy project in Rajasthan.
Adani New Industries (ANIL) is looking to increase the capacity of the solar panel facility in Mundra to 10 GW from 7 GW.
The board of Adani Power in January 2025 had approved raising funds up to Rs 5,000 crore through qualified institutional placement (QIP).
Last year, Adani Energy Solutions raised $1 billion through QIP.
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