Adani Green Energy Ltd (AGEL), India’s largest and fastest-growing pure-play renewable energy company, has announced financial results for the period ending 30 September 2024, showcasing significant growth and operational excellence. Strong revenue, EBITDA and cash profit growth is primarily backed by robust greenfield capacity addition of 2,868 MW and consistent plant performance.
Amit Singh, CEO of Adani Green Energy Ltd, stated "Our financial performance continues to be strong, driven by significant greenfield capacity additions and robust operational efficiency. Entering the C&I space by signing our first contract underscores our commitment to decarbonizing industries, with plans to expand our merchant and C&I exposure to 15 per cent by 2030. Our growth is driven by a robust capital management plan with utmost credit discipline. Having delivered the intended capacity growth, we completely redeemed the $750 mn Holdco bond in line with our commitment, resulting in systematic deleveraging.”
He further said, “We remain focused on best-in-class sustainability and governance practices, and the reaffirmation of our top rankings by global ESG rating agencies only strengthens our resolve to deliver sustainable and industry-leading growth. Adani Green is well on track to achieve its 2030 RE capacity target of 50 GW, including at least 5 GW of energy storage.”
AGEL’s operations and maintenance (O&M) leverage sophisticated data analytics, enhanced by machine learning and artificial intelligence, in collaboration with our O&M partners, Adani Infra Management Services Pvt Ltd (AIMSL).
AGEL is the first renewable energy company in India to join 'Utilities for Net Zero Alliance'. Established at COP28, this alliance unites leading global utilities and power companies, ensuring a focused and strategic approach to achieving a sustainable energy future.
AGEL is developing a massive 30 GW renewable energy plant at Khavda in Gujarat. This is spread over an area of 538 sq km, almost 5 times the city of Paris. This project will set a global benchmark for development of ultra large-scale renewable energy plant.