Adani Green Energy announced that the Boards of Adani Green Energy (UP), Parampujya Solar Energy and Prayatna Developers, being wholly owned subsidiaries of Adani Green Energy have approved the issuance of USD-denominated Rule 144A / Reg S 5.5-years senior secured green bonds (the "Notes") aggregating to US $ 500,000,000 (the "Issue").

The Issuers intend to use all of the proceeds to repay their respective external commercial borrowing loans, and the balance of the net proceeds for capital expenditure, other project related liabilities or for on-lending to other subsidiaries of the Company, in accordance with guidelines prescribed by the Reserve 8ank of India.

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