Adani Green Energy Ltd (AGEL) has secured a 25-year power purchase agreement (PPA) with Uttar Pradesh Power Corp. Ltd (UPPCL) for supply of 400 MW solar power.
The PPA with UPPCL was signed through Adani Green Energy Sixty Nine Ltd, a wholly-owned step-down subsidiary of the company. Under the PPA, Adani Green will supply 400 MW solar power from grid-connected solar PV power project to be developed in the state of Rajasthan, at a competitive price of INR 2.57/kWh.
The announcement comes on the heels of AGEL’s steller financial performance in FY 2024-25. The company reported a 23% jump in power supply revenue to INR 9,495 crore, up from INR 7,735 crore the previous fiscal year. EBITDA rose by 22% to INR 8,818 crore, with an impressive EBITDA margin of 91.7%. Cash profits surged 22% to INR 4,871 crore.
AGEL added 3,309 MW of new capacity over the year, increasing its operational capacity by 30% to 14.2 GW.
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