On May 15, 2019, Adani Green Energy (UP) Ltd. (AGEUPL), Parampujya Solar Energy Private Ltd. (PSEPL), and Prayatna Developers Private Ltd (PDPL, collectively Parampujya Solar Energy Private Ltd. Restricted Group, or the issuers) are seeking to issue US$500 million in green bonds to finance and refinance solar power plants and related transmission infrastructure in India. The issuers comprise three wholly owned subsidiaries of Adani Green Energy Ltd. (AGEL), an independent power producer in India. The issuers own and operate a portfolio of 25 utility-scale solar energy projects, with 930 megawatts (MW) of total installed capacity. In our opinion, this transaction is aligned with the Green Bond Principles 2018 (GBP). Read More