Adani Green Energy gets shareholders nod to raise borrowing limit to Rs 25k cr

Adani Green Energy has received shareholders'' approval to raise its borrowing limit to Rs 25,000 crore from the existing Rs 15,000 crore in the annual general meeting held on July 13, 2021.

The special resolution to enhance the borrowing limits of the company to Rs 25,000 crore, has been approved with the requisite majority, a BSE filing stated.

The members of the company at their meeting held on January 9, 2018, had passed a resolution authorizing the Board of Directors of the company to borrow monies, from time to time, up to Rs 15,000 crore.

In view of the growth plans of the company, it is proposed to increase the borrowing limits from Rs 15,000 crore to Rs 25,000 crore for the company, the notice for AGM had explained earlier.

Driven by the vision to commission 25 GW operational capacity by 2025, an aspiration to be the largest solar energy company in the world by 2025 & the largest renewable energy company in the world by 2030 and to support its business operations, the company may need additional funds, the company had stated in the AGM notice.

Shareholders have also approved the appointment of Vneet S. Jaain as Managing Director and Chief Executive Officer. The members also approved a proposal for re-appointment of Rajesh S Adani, as a director of the company.