Adani Green Energy arm commissions 50 MW solar project

Adani Green Energy Limited (AGEL) has announced that its arm Adani Solar Energy Jodhpur Two’s 50 MW solar project is now operational. The project was commissioned by Adani Solar Energy Jodhpur Two as an independent power producer to sell power to third parties or on the power exchange. 

With this, 2,850 MW of AGEL’s renewable energy projects are operational, including 2353 MW under a joint venture with Total. Together with 11,345 MW projects under implementation, the operational capacity makes up AGEL’s total 14,195 MW portfolio of renewable capacity in India.

Financial performance

In a separate release, Adani Green reported a 15% year-on-year increase in total income for the first half of FY2020-21. The company’s total income in H1 FY 2020-21 rose to INR 1596 crore from INR 1387 crore in H1 FY 2019-20. The net profit jumped to INR 39.32 crore from INR 4.8 crore in H1 FY 2019-20.

Vneet S. Jaain, MD and CEO, Adani Green Energy, said, “Adani Green is rapidly moving towards a sustainable future through its focused approach on competency building, operational excellence and putting in place robust systems and processes. In line with our goal of achieving 25 GW of installed capacity by 2025, we have adopted a transformational project development approach to helping rapid capacity scale-up. We are working on de-risking the project pipeline through three years of advanced site resource estimation, design planning, supply chain planning and so on. We are also proactively implementing industry best practices for ESG to enhance stakeholders’ value. The financial results for H1 FY21 provide testimony to the strength of AGEL’s business model.”