From getting the Kerala Airport lease to how his take on rural to urban migration in India -- Gautam Adani has been in the news several times recently. And now, one of the companies run by him -- Adani Green Energy Limited -- is making ripples for its performance over the last year.
Adani Green Energy which is being added to the Nifty Next 50, has reportedly grown by over 741% in the last one year. In June, the company won the world's largest solar order to build eight gigawatts of photovoltaic (PV) power plant along with a domestic solar panel manufacturing unit at an investment of Rs 45,000 crore. With this contract, Adani Green now has a portfolio of 15 GW of renewable power generating assets.
Additionally, the company has also seen a Rs 3,707 crore investment in April from France's Total SA. This saw the company enter into a joint venture for operating solar power projects across India.
A recent Economic Times article also adds that the company is in discussions to raise $ 1.35 billion to fund several projects. Reportedly, the company is in talks with companies including Standard Chartered Bank, JPMorgan, MUFG, Barclays, DBS Bank and Qatar National Bank. The ET report suggests that this offshore loan would be used for the construction of four solar and wind energy projects.
(With inputs from agencies)