Adani Green Energy Set to Add 800 MW of RE Projects

Adani Green Energy(AGEL) has announced that it strategies to add over 800 MW of renewable energy projects in the present financial year and 3300 MW in two more years, the company said.

"Adani Green Energy plans to add over 800 MW of new capacity of wind and solar projects during the current financial year. Adani Green is India's one of the fastest-growing renewable energy firms with over 2000 MW of operational assets and 3300 MW capacity to be commissioned in two more years to become 5,000 MW renewable entity by 2022. It is considering fundraising drive through suitable instruments to finance this expansion," it said in a statement.

Adani Group company has an existing project portfolio of 4,560 MW including 46 operational projects and 18 projects under construction.

"We are committed to create a greener future. Our vision is to have a portfolio of 10 GW of renewable energy projects by 2022. We are investing to tap value-accretive opportunities to deliver on this goal. AGEL is the first Indian company to reach the milestone of 4.5 GW organically," Adani Green CEO Jayant Parimal was quoted as saying in company's latest annual report issued ahead of its annual general meeting scheduled on August 7.

"The company management has pursued shareholders' nod to raise up to Rs 5,000 crore to fund its existing and upcoming renewable energy projects," the company said.