Adani Green Energy Ltd (AGEL) announced a 37% year-on-year growth in its operational capacity, reaching 11,609 MW for the nine months ending December 31, 2024. This increase was driven by the addition of 2,693 MW in solar power and 438 MW in wind power through greenfield projects.
In the solar sector, the company added 2,113 MW in Khavda, Gujarat, and 580 MW in Rajasthan. In wind power, AGEL saw the development of 312 MW in Khavda and 126 MW in Gujarat. During this period, AGEL’s energy sales grew by 23% year-on-year, totaling 20,108 million units, supported by the strong expansion of its capacity.
The company also maintained a steady 49% CAGR in electricity generation over the last four years, with an increasing share of merchant power. The company exceeded its power delivery commitments under its power purchase agreements (PPAs), including one with MSEDCL to supply 5 GW of solar energy over 25 years.
The company reported a Capacity Utilization Factor (CUF) of 23.5% for its solar portfolio, 29.2% for wind, and 39.8% for its hybrid portfolio. This is backed by high plant availability of 99.4%, 95%, and 99.7%, respectively. On the stock market, shares of Adani Green Energy rose by 3.01% on an intraday basis. The company is scheduled to announce its third-quarter earnings for FY25 on January 23, 2025.
AGEL is one of India’s leading renewable energy companies, focused on the development, operation, and maintenance of solar and wind power projects. As part of the Adani Group, AGEL plays a pivotal role in the conglomerate’s commitment to sustainability and clean energy, aiming to support India’s transition to renewable sources.
The company has rapidly expanded its portfolio, with a target to become the world’s largest renewable energy company by 2030. AGEL operates numerous large-scale solar and wind farms across the country and is actively investing in innovation to increase energy efficiency and reduce carbon emissions. The company’s growth aligns with India’s ambitious renewable energy goals and global efforts to combat climate change.
