Adani Green Energy Ltd (AGEL) reported strong results for the April-June quarter, with a 23% increase in EBITDA to ₹2,374 crore and a 32% rise in cash profit to ₹1,390 crore. The company’s total revenue grew by 24% to ₹2,528 crore, driven mainly by the addition of 2,618 MW of capacity over the past year.
CEO Amit Singh stated that they are working towards developing the world’s largest single-location renewable energy plant of 30 GW at Khavda in Gujarat. To speed up this process, they have used advanced robotics for installing solar modules and developed a strong local supply chain and workforce.
This week, AGEL made the first 250 MW wind capacity at the Khavda plant operational, bringing the total operational capacity at Khavda to 2,250 MW. AGEL now has an operational portfolio of 11,184 MW, making it the leader in India.
In the April-June quarter, AGEL expanded its operational capacity by 31% to 10,934 MW, with new additions including 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat. Energy sales increased by 22% year-on-year to 7,356 million units.
AEGL targets 50 GW capacity by 2030
AGEL aims to reach a capacity target of 50 GW by 2030, including at least 5 GW of energy storage in the form of pumped hydro. For FY24, the company reported a 30% growth in EBITDA to ₹7,222 crore and revised its 2030 capacity target from 45 GW to 50 GW.
The Khavda renewable energy plant, covering 538 sq km, is the world’s largest single-location renewable energy and power plant. AGEL plans to operationalize 2 GW in the first 12 months and add a total of 6 GW capacity by FY25, with the entire 30 GW to be developed by 2029, setting a global benchmark for large-scale execution.
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