Adani Green Energy Ltd (AGEL) announced on March 29 that its fully-owned subsidiary, Adani Renewable Energy Fifty Seven Ltd, has successfully commissioned a 37.5 MW solar power project in Khavda, Gujarat. With this addition, the company’s total renewable energy capacity has now reached 13,737.8 MW.
Just a day before this development, AGEL secured a 400 MW solar power project in Rajasthan through its subsidiary, Adani Renewable Energy Holding Twelve Ltd. The project, awarded by Uttar Pradesh Power Corporation Ltd (UPPCL), will provide electricity to the state for 25 years at a tariff of ₹2.57 per kilowatt-hour (kWh).
AGEL reported an 85% jump in consolidated net profit for the December quarter at ₹474 crore compared to ₹256 crore last year. The growth was driven by higher revenue from power supply, which rose to ₹1,993 crore from ₹1,765 crore in the same quarter last year.
The company’s operational capacity increased by 37% year-on-year to 11,609 MW, with 3,131 MW of new power plants being added. In 2024, AGEL represented 15% of India’s utility-scale solar installations and 12% of wind capacity additions.
Despite these milestones, Adani Green Energy shares closed 1.24% lower at ₹948 in the last trading session. The stock, however, has gained 22.4% in the past month, although it remains more than 50% lower than six months ago.
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Source: Moneycontrol.
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