A wholly owned subsidiary of Adani Enterprises, Adani New Industries Ltd (ANIL), has raised a trade finance facility of $394 million or Rs 3,231 crore from Barclays Plc and Deutsche Bank AG for securing the working capital requirements of its integrated solar module manufacturing facility.

In an exchange filing, Adani Enterprises said that its renewable energy-focused unit raised a working capital loan of $394 million to meet the working capital requirements of its integrated solar module manufacturing facility. 

ANIL, a utility company, is building a 10-GW integrated solar module manufacturing ecosystem with a capacity of 30,000 million tonnes per annum of polysilicon and monosilane solar modules in Mundra, Gujarat. Adani New Industries plans to manufacture solar modules, batteries, electrolysers, associated upstream manufacturing, and ancillary industries at the facility.

ANIL set up the largest wind turbine in the country, standing at 200 meters tall, with a capacity of 5.2 MW of electricity at Mundra as part of its renewable energy expansion plans. It is the biggest wind turbine in terms of power and has a rotor diameter of 160 metres. The hub height of the wind turbine generator is 120 metres, about the height of a 40-storey building.

Adani Group has planned to invest $70 billion in the new energy space over the next decade, and Adani New Industries will serve as the vehicle for the investment. Gautam Adani has recently proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project.