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A passenger bus moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. REUTERS/Amit Dave/File photo Acquire Licensing Rights
BENGALURU, Nov 2 (Reuters) – Adani Green Energy (ADNA.NS), the renewable energy arm of Indian conglomerate Adani Group, is in talks with some foreign lenders to borrow up to $1.8 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.
The lenders include Deutsche Bank (DBKGn.DE), Standard Chartered Plc (STAN.L), Barclays Plc (BARC.L), BNP Paribas SA (BNPP.PA), First Abu Dhabi Bank PJSC (FAB.AD) and Rabobank, the report said.
The loan is being raised for capacity building in solar and wind projects and could be among 20 biggest major currency loans in Asia this year, if signed before December, the report added.
The Gautam Adani-owned conglomerate has been looking to raise up to $4 billion to fund its green hydrogen plans, according to another report.
Recently, French oil major TotalEnergies(TTEF.PA) said it will invest $300 million to build renewable capacity in India in a joint venture with Adani Green, the two companies’ first deal since U.S. short seller Hindenburg Research alleged wrongdoing by the Adani Group.
The group has denied the allegations.
The Adani Group and the banks did not immediately respond to Reuters’ request for comment on the loan.
Reporting by Manvi Pant in Bengaluru; Editing by Savio D’Souza and Sohini Goswami
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