Adani Green Energy promoters to infuse ₹9,350 crore in the company via warrants

The total fund infusion of $1.4 billion, will also include a $300 million infusion from the TotalEnergies JV.

This will take the total funds raised by the company to $3 billion after it raised debt worth $1.4 billion earlier this month.

The issuance is subject to approval of regulatory and statutory authorities as well as the shareholders of the company, who will vote for this proposal at the Extraordinary General Meeting (EGM) scheduled on January 18, 2024.

Earlier, the company had announced a construction facility worth $1.36 billion by eight international banks for solar power projects worth 2,167 MW at Khavda in Gujarat, which is the largest solar park in the country.

The company further said that it is now fully equipped to achieve its stated target of 45 GW by 2030 with 20.6 GW locked-in capacity, over 2 lakh acres of land along with this equity infusion.

"With the funds infused, Adani Green remains favourable positioned to achieve its accelerated growth trajectory," Adani Group Chairman Gautam Adani was quoted as saying.

Shares of Adani Green Energy are currently at the day's high, currently trading 4.4% higher at ₹1,600.