Adani's Billion-Dollar Boost: Green Energy Investment Surge Amid Market Rally

Billionaire Gautam Adani is poised to inject a substantial investment of $1 billion (approximately ₹8,340 crore) into Adani Green Energy, aiming to bolster the company's environmental sustainability initiatives, according to a Bloomberg report. This proposed investment is part of Adani's strategy to support the expansion and refinancing needs of Adani Green.

Adani Green is exploring the issuance of preferential shares to its founders to meet these requirements, although the finalization of the deal is pending. In pursuit of business expansion, Adani Green has scheduled a board meeting on December 26 to evaluate fundraising options, including the potential sale of shares or convertible securities, as per company filings.

As a relatively young member of the Adani Group, Adani Green manages notable projects such as the Kamuthi Solar Power Project in Tamil Nadu, one of the world's largest solar photovoltaic plants. The company has an ambitious goal of achieving 45 gigawatts of green energy capacity by 2030. Additionally, Adani Green is actively addressing the $1.2 billion bond maturities slated for the next year, with plans for repayment already underway.

Amidst the recent record-breaking surge in Sensex and Nifty, Adani Green Energy shares have experienced a significant uptick, rising by 4.6% on Thursday. This positive trend aligns with a broader market rally that has benefited other companies within the Adani Group.

Earlier this month, Adani Green successfully secured a $1.36 billion loan from an international bank consortium to support the expansion of its renewable power capacity. Despite the recent success of Adani Green on the stock market, some other companies within the Adani Group faced notable losses on a day when Sensex dropped by 930 points. Adani Ports & Special Economic Zone and Adani Enterprises were among the top losers, experiencing declines of 5.76% and 5.35%, respectively.