Adani Green plans to expand its green energy capacity by about 3 gigawatts this fiscal year.
Adani Green Energy, controlled by billionaire Gautam Adani, said today it approved raising Rs 123 billion through qualified institutional placement.
The renewables company will use the funds to diversify its green energy supply in India, Bloomberg had reported earlier in the day, citing sources familiar with the matter.
The company plans to expand its green energy capacity by about 3 gigawatts this fiscal year, spending around Rs 140 billion, its finance chief Phuntsok Wangyal had said in May.
India's renewables sector has been one of the most lucrative sectors for international investors, finding its spot among one of the country's top five industries for overseas funds last year.
In May, two other Adani group companies - Adani Transmission and Adani Enterprise - outlined plans to raise up to $2.57 billion.
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