Adani Green Energy Ltd, a part of the Adani Group, today announced the operational and financial results for the quarter and half year ended September 30, 2021.
The company’s operational capacity increased to 5,410 MW (4,763 MW solar and 647 MW wind) as of September 30, 2021, a 93% growth from 2,800 MW in September last year.
Out of 2,610 MW of new operating capacity addition, 725 MW (475 MW solar and 250 MW wind) was from greenfield project commissioning, and 1,885 MW through inorganic addition. Under the inorganic route, the company added 1,740 MW of operational capacity by completing the acquisition of SB Energy’s 4,954 MW India renewable portfolio (including 1,700 MW operational solar assets) and Essel Green Energy’s 40 MW operational solar assets in Odisha.
Among half-yearly financial highlights, the sale of energy increased by 54% to 3,954 million units in the March 1-September 30, 2021 period of FY2021-22. The increase was backed by capacity addition of 2,610 MW and improved solar and wind capacity utilization factor (CUF). Solar CUF improved by 50 bps YoY to 23.2%. EBITDA from the power supply was up by 50% YoY to INR 1,577 crore with 150 bps improvement in EBITDA margin to 93.1% in H1 FY22.
Recent updates
AGEL landed a 450 MW wind project from the Solar Energy Corporation of India (SECI) in October 2021. With this, its overall renewable portfolio has now increased to 20,284 MW (5,410 MW operational, 6,591 MW under-execution, and 8,283 MW near construction).
Further, the company has signed 25-year power purchase agreements (PPAs) with the SECI for a total capacity of 867 MW at an INR 2.54/kWh. This capacity is part of 8 GW of manufacturing-linked solar projects won by the developer. Contract agreements to set up 2 GW of solar PV manufacturing plants under this tender were also signed with the SECI.
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