Adani Green Energy Reports 24% Revenue Growth For April-June Quarter

Adani Green Energy, a prominent player in the renewable energy sector, has reported a 24 per cent year-on-year increase in its consolidated revenue from operations for the April-June quarter.

The company's consolidated revenues reached Rs 2,528 crore, compared to Rs 2,045 crore in the same period last year. This announcement was made as the company revealed its financial results for the quarter ending June 2024 on Thursday.

The company's operational capacity surged by 31 per cent on a yearly basis, reaching 10.9 GW, and increased to 11.2 GW following a 250 MW wind capacity addition in July 2024. Noteworthy greenfield additions include 2,000 MW of solar capacity in Khavda, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat.

This significant growth in revenue, EBITDA, and cash profit is attributed to a capacity expansion of 2,618 MW over the past year, according to the company.

Amit Singh, CEO of Adani Green Energy, highlighted the company's ongoing efforts to develop the world's largest single-location renewable energy plant at Khavda in Gujarat, with a planned capacity of 30 GW.

He emphasized the deployment of advanced robotics technology for solar module installation to enhance productivity and the establishment of a robust local supply chain and human resource mobilization. Singh also noted that the company is well-positioned to meet its 2030 target of 50 GW capacity, which includes at least 5 GW of energy storage in the form of pumped hydro.

Adani Green Energy is spearheading the development of a 30 GW renewable energy plant on barren land in Khavda, Kutch, Gujarat. The project, spanning 538 sq km, is set to become the largest power plant globally, with an investment of approximately Rs 1.5 lakh crore.

Within 12 months of initiating construction, Adani Green has already operationalized the first 2 GW. The company plans to add 6 GW of capacity in 2024-25, with Khavda contributing significantly to this expansion. The full 30 GW capacity is expected to be developed by 2029.

The global momentum towards green energy for climate mitigation is gaining traction, in line with commitments made at COP26 in 2021. India pledged to achieve 500 GW of non-fossil electricity capacity, generate half of its energy requirements from renewables, and reduce emissions by 1 billion tonnes by 2030. Additionally, India aims to reduce the emissions intensity of its GDP by 45 per cent and achieve net-zero emissions by 2070.

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