Rs 2 trillion funds tied up for expansion, says Adani Green Energy

Adani Green Energy, the renewable power arm of the conglomerate, would be investing Rs 2 trillion by 2030 and has already tied up funds for the entire project, Sagar Adani, executive director of the firm, said on Tuesday. “The entire funding for the expansion to 50 GW from the current capacity of 10.9 GW has been tied up already. The equity contribution of 25 per cent is already in and the rest of debt is tied up with lenders with revolving facilities,” Adani said in a media interaction in Ahmedabad. “We are expecting Rs 50,000 crore of Ebitda (earnings before interest, depreciation, tax and amortisation) by 2030,” said Adani. “Our company is bidding for those renewable projects which meet our internal rate of returns and till we don't have a clarity on that, we are not going ahead with the project,” Adani said, adding that all its projects IRR are currently in the high teens. The company received equity investment of $300 million from TotalEnergies while the Adani family has subscribed to equity share warrants of Rs 9,350 crore.