Adani Green share price extends gains into second consecutive session, jumps 6%; here's why

livemint.com:

BSE on Thursday, February 15, in a weak market. Adani Green Energy share price opened at ₹1870.30 against the previous close of ₹1852.70 and soon jumped 5.8 per cent to the level of ₹1,959.60. Around 9:50 am, the stock traded 4.60 per cent higher at ₹1,938.

In an exchange filing on Wednesday, February 14, the company said it operationalised a 551 MW solar capacity in Khavda, Gujarat, by supplying power to the national grid. The stock ended 1.96 per cent higher on Wednesday. Moreover, the company is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India.

The project is, poised to be the world's largest upon completion, and is expected to generate a staggering nearly 81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year. Adani Green Energy plans on expanding its operational portfolio to 9,029 MW and total portfolio to a commanding 20,844 MW, the company announced on February 14. Also Read: Jefferies initiates ‘buy’ call on Adani Enterprises with ₹3,800 target price "With proven expertise in developing large-scale renewable projects, a robust supply chain network and technological prowess, Adani Green Energy is best positioned to build this record-setting giga-scale plant with no parallel in the world’s clean energy sector," the company stated.