![Report: Adani Group plans to infuse $1 billion in green energy unit amid maturing bonds in 2024](https://img-cdn.thepublive.com/fit-in/640x430/filters:format(webp)/connect-gujarat-english/media/post_banners/f885cf7c973b11680cf69820ed93d79ab32e7bd78df07ccd35c061fd135abadc.webp)
Billionaire Gautam Adani and his family plan to inject $1 billion into the conglomerate’s renewable energy unit, people familiar with the matter said, as the group races to reach ambitious green goals while facing maturing bonds next year.
Adani Green Energy Ltd. is aiming to issue preferential shares to the company’s founders for meeting expansion and refinancing needs, according to the people familiar with the discussions who didn’t want to be identified as the talks are private.
The company board will consider fundraising proposals on Dec. 26, including evaluating options such as selling shares or convertible securities, it said in a filing Wednesday without sharing any more details.
The company, which has a goal of 45 gigawatts of green energy capacity by 2030, also has bond maturities worth $1.2 billion coming up next year and it has already begun outlining plans for repaying or refinancing those. It also raised a loan from eight banks earlier this month.
All these efforts underscore Adani Group’s attempts to draw a line over damaging allegations of corporate fraud levied by Hindenburg Research in January that plunged the ports-to-power conglomerate into crisis for months.