Adani Green Energy Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on August 26, 2025
ADANIGREEN · price
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Adani Green Energy has called an Extraordinary General Meeting on August 26, 2025 (11:00 AM, via video conferencing) to seek shareholder approval for material related party transactions with Adani Green Energy Twenty Three Limited (AGE23L), its 50:50 subsidiary with TotalEnergies Renewables Singapore. The aggregate value of the proposed transactions is up to Rs. 1,735 crores, comprising a corporate guarantee of Rs. 1,715 crores, Rs. 10 crores for rendering of services, and Rs. 10 crores for purchase of carbon credits. The corporate guarantee is intended to support AGE23L's refinancing of an existing rupee term loan with a new rupee term loan of Rs. 3,430 crores at a lower borrowing cost; the guarantee is valid for up to 3 years and the company will earn a commission of up to 1% per annum. AGE23L houses 853 MW of operational solar power projects, and the proposed transactions represent approximately 15.48% of the company's FY25 consolidated turnover of Rs. 11,212 crores. The cut-off date for e-voting eligibility is August 19, 2025, and all related parties including promoters, directors, and the TotalEnergies nominee will abstain from voting on the resolution.
Approval will enable Adani Green to backstop its subsidiary's cheaper debt refinancing without straining its own balance sheet, while earning a small fee. Since related parties are barred from voting, the outcome depends on minority and institutional shareholders, but such RPT approvals in the Adani group have generally passed. The transaction has no immediate cash outflow for the company, though it does add a contingent liability.