Adani New Industries Ltd. (ANIL) has raised $394 million from Barclays and Deutsche Bank to support the working capital requirements of its integrated solar module manufacturing facility.

ANIL, a unit of Adani Enterprises Ltd., says that it has raised $394 million of trade financing from Barclays and Deutsche Bank. The funds will support the working capital requirements of its integrated solar module manufacturing facility.

ANIL is building one of the largest integrated green hydrogen ecosystems, spanning supply chain products manufacturing, green hydrogen generation, and downstream products

Aiming for end-to-end supply chain control, it will manufacture key components and materials for renewables projects, including polysilicon, ingots, wafers, PV cells and modules, wind turbine generators, electrolyzers, and ancillary items.

In solar, ANIL says it plans full backward integration, from silicon to modules.