Gautam Adani and Family Set to Infuse ₹8,300 Crore Mega-Investment into Adani Green Energy

In a significant move towards bolstering environmental sustainability, billionaire Gautam Adani and his family are gearing up to make a colossal investment of $1 billion (approximately ₹8,340 crore) in Adani Green Energy, according to reports by Bloomberg. The investment is aimed at advancing the renewable energy initiatives of the company.

The plan involves issuing preferential shares to the founders of Adani Green to address expansion and refinancing needs, as per sources familiar with the matter. While the deal is still in the negotiation phase, the infusion of funds is expected to play a pivotal role in the firm's strategic growth.

As part of its broader expansion strategy, Adani Green is slated to convene a board meeting on December 26 to explore various fundraising proposals, including the potential sale of shares or convertible securities. This announcement was made through official exchange filings by the company.

Adani Green, a relatively young entrant in the Adani Group, is renowned for managing the Kamuthi Solar Power Project in Tamil Nadu, one of the world's largest solar photovoltaic plants. With a target of achieving 45 gigawatts of green energy capacity by 2030, the company is currently grappling with $1.2 billion in bond maturities slated for the upcoming year, with plans underway for the repayment of these obligations.

Amidst the ongoing record-breaking surge in Sensex and Nifty, Adani Green Energy shares have witnessed a significant uptick, rising as much as 4.6% on Thursday. This surge aligns with a broader rally that has seen gains in other companies within the Adani Group.

Earlier this month, Adani Green successfully secured a $1.36 billion loan from an international bank consortium, earmarked for expanding its renewable power capacity.

While Adani Green celebrated a positive trajectory in the stock market this week, some other entities within the Adani Group faced significant losses. On Wednesday, when Sensex dropped by 930 points, the top losers included Adani Ports & Special Economic Zone (down 5.76%) and Adani Enterprises (down 5.35%). The developments within the Adani Group continue to capture attention amid the evolving dynamics of the financial market.