Adani Green Energy Ltd (AGEL) has successfully commissioned a 37.5 MW solar power project at Khavda in Gujarat through its subsidiary, Adani Renewable Energy Fifty Seven Ltd. This addition boosts AGEL’s total renewable energy capacity to 13,737.8 MW, reinforcing its leadership in India’s clean energy space.

400 MW Solar Power Project Secured in Rajasthan

Expanding its footprint further, AGEL has secured a 400 MW solar project in Rajasthan through its subsidiary, Adani Renewable Energy Holding Twelve Ltd.

• The project was awarded by Uttar Pradesh Power Corporation Ltd (UPPCL).

• AGEL will supply power at a competitive tariff of ₹2.57 per kilowatt-hour (kWh) under a 25-year agreement.

• This strengthens AGEL’s long-term presence in India’s renewable sector.

Financial Performance: 85% Profit Growth in Q3 FY24

AGEL reported a massive 85% jump in net profit for the December 2023 quarter, reaching ₹474 crore, compared to ₹256 crore a year earlier.

• Revenue from power sales grew to ₹1,993 crore, up from ₹1,765 crore in the previous year.

• Operational capacity increased by 37% YoY to 11,609 MW, with 3,131 MW of new plants added.

• AGEL contributed 15% of India’s utility-scale solar installations and 12% of wind capacity additions in 2024.

Stock Performance: Gains Amid Volatility

Despite strong growth, AGEL's share price remains volatile:

• Stock fell 1.24% to ₹948 in the last trading session.

• Shares have surged 22.4% in the last month, reflecting investor confidence.

• However, the stock remains over 50% lower over the past six months, signaling broader market concerns.

Future Plans: Expansion & Green Energy Innovations

AGEL is aggressively expanding its renewable energy portfolio with key initiatives:

• Developing the world's largest renewable energy park in Khavda, Gujarat, spanning 538 sq km with an aim to install 30,000 MW of capacity.

• Deploying waterless cleaning robots for solar panels, optimizing efficiency and conserving water in arid regions.

• The projects are expected to create over 15,200 green jobs and advance India's clean energy goals.

Conclusion: Adani Green Energy's Strong Growth in the Renewable Sector

With new solar projects, strong financial growth, and expansion plans, Adani Green Energy is reinforcing its position as a leader in India’s renewable energy sector. While stock volatility continues, the company’s long-term outlook remains positive.

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