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Business News/ Companies / News/  Adani Group in talks with West Asian sovereign funds to raise $2.6 billion for airport, green hydrogen business
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Adani Group in talks with West Asian sovereign funds to raise $2.6 billion for airport, green hydrogen business

Adani Group in talks with West Asian sovereign funds for $2.6B funding for airport and green hydrogen projects, aims for ₹80,000 crore EBITDA by 2024.

The Adani Group is aiming for an EBITDA (earnings before interest, tax, depreciation, and amortisation) of ₹80,000 crore by March 2024, has conducted roadshows in London, Dubai, and Singapore to attract potential investors. (PTI)Premium
The Adani Group is aiming for an EBITDA (earnings before interest, tax, depreciation, and amortisation) of 80,000 crore by March 2024, has conducted roadshows in London, Dubai, and Singapore to attract potential investors. (PTI)

The Adani Group, an Indian conglomerate, is reportedly in advanced talks with sovereign funds in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects.

The Adani Group is aiming for an EBITDA (earnings before interest, tax, depreciation, and amortisation) of 80,000 crore by March 2024, has conducted roadshows in London, Dubai, and Singapore to attract potential investors. These roadshows provided an opportunity for the group to present its future growth plans, particularly focusing on its expansion in the airport sector and its foray into the emerging green hydrogen space, according to a report by Business Standard daily.

Also Read | Adani Realty wins bid for 30,000 crore Bandra Reclamation redevelopment contract in Mumbai

Meanwhile, Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation (MSRDC), as per a report by the Free Press Journal. The final approval is pending and will be decided by the MSRDC Board in their upcoming meeting, as reported by Mint on February 17, 2024.

Also Read | Powering Millions: Adani Green's 30 GW project to generate 81 billion units of electricity annually

Additionally, Adani Green Energy Limited (AGEL) a subsidiary of Adani Group is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India. The project is, poised to be the world's largest upon completion, and is expected to generate a staggering ~81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year. AGEL plans on expanding its operational portfolio to 9,029 MW and total portfolio to a commanding 20,844 MW. Stay tuned for details on how this green giant will reshape India's energy landscape, Mint earlier reported.

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Published: 19 Feb 2024, 09:34 AM IST
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