Adani Green Energy, a renewable energy company, is planning a capital expenditure of Rs 8,000 to Rs 10,000 crore in FY21. The company plans to build between 1,100 MW and 1,500 MW of wind and solar power plants.
Around Rs 7,000 crore of investment will be financed by debt raised from domestic lenders and when the projects are completed and have an operating track record, the debt could possibly be refinanced through a green bond issue.
Adani Green Energy had received USD 510 million from TOTAL Solar Singapore for its 50 percent stake in a joint venture (JV), into which Adani Green Energy has transferred 2,148 MW solar assets.
The company is building 3,445 MW wind, solar and hybrid plants — 1,280 MW, 475 MW, and 1,690 MW, respectively, which will add to its existing portfolio of 2,545 MW, including the 2,148 MW under the JV with TOTAL.
The company buys solar modules from China, and the modules produced by the company, Adani Solar, are used in those projects where the use of locally-made modules is mandatory.
The company has faced some supply disruptions between mid-January 2020 and mid-March 2020. However, the impact is only a limited because it did not have too many projects under construction at that time.
Due to the normalisation of supply in China but lack of demand in the world, there is a glut in the solar modules market. Modules are available at USD 19-20 cents.
The company has sold 4,373 million units of electricity and earned Rs 2,065 crore from power sales in 2019-20.