Adani Green Energy posts INR 371 crore profit in second quarter


Adani Green Energy Ltd (AGEL), an Adani Group renewable energy company with a project portfolio of 20.4 GW, today announced financial results for the quarter ending Sept. 30, 2023. The company’s consolidated total income in the July-Sept quarter was INR 2,589 crore, 53.7% up year-on-year from INR 1,684 crore in the corresponding period of the last fiscal. Quarterly net profit was up 150% YoY to INR 371 crore.

The Group’s operational capacity reached 8,316 MW as on Sept. 2023 with the addition of 1,150 MW solar-wind hybrid, 212 MW solar, and 230 MW wind power plants over the last one year.

With an operational capacity of 8,316 MW (with 9,021 MW AC capacity), AGEL continues to own the largest operating renewable energy portfolio in the country.

“In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000+. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India’s largest and one of the most efficient 5.2 MW wind turbine. These efforts will drive us towards achieving the lowest levelized cost of energy,” said Amit Singh, chief executive officer of Adani Green Energy Ltd.

“Looking ahead, we aim to augment automation in our operations and make every decision even more intelligence-driven through extensive digitalization and AI/ ML integration. Our commitment to sustainability and the highest level of governance will remain the foundation of our future growth.”

Adani Green Energy Ltd (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with an overall locked-in portfolio of 20.4 GW, including operating, under-construction, and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects.

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