Connect with us

Hi, what are you looking for?

Image: Zach Shahan, CleanTechnica

Clean Power

India’s Adani Green Energy Grabs $362 Million From Green Bond Issue

Foreign investors latched onto a green bond issued by Adani Green Energy, a leading renewable energy company in India. Despite the poorly rated paper, investors flocked to the bond issue.

Foreign investors latched onto a green bond issued by Adani Green Energy, a leading renewable energy company in India. Despite the poorly rated paper, investors flocked to the bond issue.

Image: Zach Shahan –

Adani Green Energy, a subsidiary of Adani Enterprises, successfully raised $362.5 million through a green bond issue. The company offered a coupon rate of 4.625 percent and a 20-year maturity. According to media reports, this is the first green bond issued by an Indian entity with a maturity period of 20 years.

The coupon rate was attractive to both investors and Adani Green Energy. The coupon rate was lower than the latest benchmark rate announced by the Reserve Bank of India, but higher than what foreign investors have access to in the western markets. Investors like PIMCO and Fidelity subscribed to the bond issue and offered to invest more than US$2 billion. This is despite the lowest investment rating of BBB- assigned by S&P to the bond issue.

There could be several reasons for investors to take the risk with this bond issue despite the uninspiring rating. Adani Green Energy is among the largest renewable energy companies in India. The company has footprint in solar and wind energy project development. Additionally, it is also India’s largest solar cell and module manufacturing company. The company have renewable energy projects operational in 10 Indian states and actively bids in state and federal auctions apart from engaging in acquisition activities.

Adani Green Energy also enjoys a rich parentage in the form of Adani Enterprises, a large conglomerate operational in multiple sectors including real estate, mining, finance, port logistics, and agribusiness.

Long-term commitment by the Indian government towards renewable energy could be another major reason for the high interest of foreign investors. Last month, the Indian Prime Minister committed to 450 gigawatts of non-fossil fuel power generation capacity by 2035.

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

An avid follower of latest developments in the Indian renewable energy sector.


#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.


Support our work today!


Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports


EV Sales Charts, Graphs, & Stats


Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

The Indian government has announced a new incentive scheme to boost manufacturing in the solar power sector. Through this scheme, the government plans to...

Clean Power

One of India’s largest renewable energy generation companies, Adani Green Energy, has reported stellar financial performance during the first quarter of this year. According...

Clean Power

One of India’s largest renewable power companies, Tata Power Renewable Energy, has secured the rights to develop a large solar power project. According to...


The Indian state of Maharashtra has issued a tender for the installation of 1.3 gigawatts of solar power projects. According to media reports, the...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.