Adani Green Q1: Cash Profit Up 32 Percent to INR 1,390 Crore

Adani Green Energy Ltd. (AGEL) has recently announced robust results for the April-June quarter of the current fiscal year, showcasing its leadership in the renewable energy sector.

The company reported a 23 percent increase in EBITDA, reaching INR 2,374 crore, and a significant 32 percent rise in cash profit to INR 1,390 crore year-on-year. The total revenue for the quarter grew by 24 percent, totaling INR 2,528 crore in the quarter.

The impressive financial performance is driven by substantial capacity additions. As per the firm's statement, AGEL added 2,618 MW over the past year, and in the latest quarter, operational capacity expanded by 31 percent to 10,934 MW. This growth includes 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat. Further, the note said that the energy sales increased by 22 percent year-on-year to 7,356 million units, fueled by strong operational performance and capacity growth.

Amit Singh, CEO of AGEL, revealed about the company’s progress in developing the world’s largest single-location renewable energy plant at Khavda in Gujarat. The project, covering 538 sq km, which is nearly five times the size of Paris, will ultimately have a capacity of 30,000 MW. The Khavda plant has already operationalized the first 250 MW of wind capacity, with a cumulative operational capacity of 2,250 MW at the site. AGEL plans to add 6 GW of capacity in FY25, with Khavda playing a crucial role in this expansion.

"To enable accelerated implementation, we have deployed advanced robotics technology for the installation of solar modules, significantly enhancing productivity. Additionally, we have developed an extensive local supply chain and established a sustained mobilisation of human resources," he said.

As per the firm, AGEL is on track to meet its 2030 target of 50 GW of total capacity, including at least 5 GW of energy storage through pumped hydro. This target has been revised from the previous goal of 45 GW, reflecting the company’s ambitious growth strategy. The Khavda project is set to establish a global benchmark for large-scale renewable energy implementation, with the entire 30 GW capacity expected to be completed by 2029.