Shares of Adani Green Energy are buzzing in trade on Wednesday, January 15, as the stock spiked another 7.35% to ₹1,080 apiece, driven by multiple positive developments. Today is the second straight day of gains for the Adani group stock as Adani Green share price surged 13.16% on Tuesday, taking the two-day rise to 20%.
On Tuesday, the company informed investors through an exchange filing that its step-down subsidiary, Adani Renewable Energy Forty Eight, has commissioned a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat.
With the commissioning of this plant, the company’s total operational renewable generation capacity has increased to 11,666.1 MW.
In another regulatory filing today, Adani Green Energy released its operational capacity data for the 9M FY25 period, reporting a 37% YoY increase to 11,609 MW. This growth was driven by greenfield additions, including 2,693 MW of solar and 438 MW of wind power plants.
Key projects include the operationalisation of 2,113 MW of solar capacity in Khavda, Gujarat, and 580 MW in Rajasthan, along with 312 MW and 126 MW of wind capacity in Khavda, Gujarat.
The sale of energy rose by 23% YoY to 20,108 million units in 9M FY25, supported by robust capacity additions. Over the past four years, Adani Green Energy has achieved steady growth in generation at a compound annual growth rate (CAGR) of 49%, with an increasing proportion of merchant power.
Additionally, the company signed a Power Purchase Agreement (PPA) with MSEDCL to supply 5 GW of solar power for a period of 25 years.
Adani Green Energy, incorporated in 2015, is a holding company of several subsidiaries carrying on the business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.
The company develops, owns, and operates utility-scale, grid-connected solar, wind, hybrid, and hydro-pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 11.6 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals.
Meanwhile, India added approximately 24.5 GW of solar capacity and 3.4 GW of wind capacity in 2024, according to JMK Research, which represents an over two-fold jump in solar installations and a 21% rise in wind installations compared to 2023.
Impressively, the solar capacity added in 2024 is the highest recorded in any single year so far. These fresh additions have brought India's total installed renewable energy (RE) capacity to 209.44 GW as of December 2024, contributing nearly 45% to the total power capacity of 462 GW, as per the Ministry of Power.
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