BackAdani Transmission gets 'green loan' tag for $700 mn revolving facility
Adani Transmission highlighted that Sustainalytics had issued the independent SPO on the alignment of the reviewed framework with the current market standards and the extent to which the eligible project categories are credible and impactful.
PremiumAdani Transmission's $700 million revolving facility has been tagged as a 'green loan' by Sustainalytics. This assures the green loan framework for the revolving facility. Sustainalytics had issued the independent SPO on the alignment of the reviewed framework with the current market standards and the extent to which the eligible project categories are credible and impactful.
Anil Sardana, MD, and CEO, ATL said, "The SPO from Sustainalytics is the testament to overall philosophy of Adani Transmission to facilitate transition to green energy by increasing the share of renewable power in the overall grid, in line with India’s commitment on climate change."
In its statement today, the company highlighted that Sustainalytics opined that Adani Transmission's green loan framework aligns with the four core components of the green loan principles 2021 on project evaluation & selection, use of proceeds, and the associated contribution to sustainable development goals, management of proceeds, and reporting.
Notably, the projects associated with the $700 million revolving facility are being implemented in the states of Gujarat and Maharashtra.
Further, Adani Transmission stated that these investment in the eligible category shall support the transmission of clean energy and advance the UN Sustainable Development Goals (SDG) 7 (Ensure universal access to affordable, reliable, and modern energy services, increase substantially the share of renewable energy in the global energy mix); and SDG 9 (Develop quality, reliable, sustainable and resilient infrastructure, including regional and trans-border infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all).
Also, the revolving facility underlines the overall development philosophy of Adani portfolio companies implemented through an in-house developed project excellence framework committed to the highest standard of due diligence covering all international standards of Environment, Social, and Governance (ESG) aspects.
MUFG Bank has acted as Green Loan Coordinator to the issuer for arranging the SPO on Green Loan Framework prepared by Adani Transmission.
At around 2.33 pm, Adani Transmission shares were trading at ₹2,084.40 apiece up by ₹27.40 or 1.33%. The shares have touched an intraday high of ₹2,119.95 apiece.
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