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SEC charges Adani executives in solar project bribery case

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The Securities and Exchange Commission (SEC) has charged Gautam Adani and Sagar Adani, senior executives at Adani Green Energy Ltd., and Cyril Cabanes, a former executive of Azure Power Global Ltd., for their alleged roles in a multi-billion-dollar bribery scheme. The scheme was allegedly designed to secure favourable terms for a solar energy project awarded by the Indian government. The SEC alleges that Gautam Adani, Chairman of Adani Green, and Sagar Adani, its Executive Director,…

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Azure Power secures REC and HSBC refinancing, completes early bond prepayment

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Azure Power Global Ltd, a leading renewable power producer in India, has completed an Rs 24 billion refinancing transaction structured as an INR Term Loan underwritten solely by REC Ltd.  This transaction enabled the company to prepay its $350 million Green Bonds, originally issued in 2019, which were set to mature in December 2024. These bonds were backed by 10 solar projects commissioned between 2016 and 2019. Previously, Azure Power completed an Rs 13 billion…