Adani Group is in early discussions with Singapore-based GIC and Temasek Holdings to raise at least $10bn to support the Indian conglomerate’s foray into clean energy and ports, as per Mint. The news agency said that Adani is also in talks with other wealth funds and private equity firms to raise funds for its expansion plans, as part of its vision to become the world’s largest renewable energy producer. There has been no confirmation of the news from either of the parties involved. Last year, Adani Group has pledged to invest $70bn in green power as part of its transition towards clean energy.
Adani Green’s 6.25% 2024s are trading lower at 92.5 cents on the dollar, down by 0.17 points to yield 10.2%.