Adani Green Energy shares in focus after commissioning 57.2 MW wind-solar hybrid project in Gujarat
Adani Green Energy shares will be in focus on Wednesday, January 15, after Adani Renewable Energy Forty-Eight Limited, a step-down subsidiary of Adani Green Energy Limited (AGEL), announced the commissioning of a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat.
With this addition, AGEL’s total operational renewable generation capacity has risen to 11,666.1 MW, the company said in a regulatory filing. The plant is set to commence power generation on January 15, 2025, following the relevant clearances.
In December, Adani Green Energy established a new wholly owned subsidiary, Adani Green Energy Sixty-Eight Limited (AGE68L), with an authorized and paid-up capital of Rs 1,00,000. The primary objective of AGE68L is to generate, develop, distribute, and supply power using wind, solar, and other renewable energy sources.
In October, Adani Green Energy reported its fiscal second-quarter earnings, with a net profit of Rs 515 crore, up 39% YoY from Rs 371 crore in the same period last year. The company’s total income increased by 30.4% to Rs 3,376 crore, compared to Rs 2,589 crore in the same period last year. However, its total expenses also saw a 31.3% year-on-year growth, reaching Rs 2,837 crore.
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