Adani Group targets to become net zero by 2050 or earlier for five of its portfolio companies — Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements.
ISS ESG, the responsible investment arm of Institutional Shareholder Services, has placed Adani Green Energy Ltd (AGEL) in the ‘Prime’ B+ band for its high level of transparency
Nick Lanir Brown, chief business officer at Airtouch Solar, told pv magazine they would supply and install Airtouch AT 4.0 robotic panel cleaning systems for Adani Green Energy’s solar farm in Rajasthan.
Adani Green Energy has reported a profit after tax of INR 973 crore in FY 2022-23, almost 100% up from INR 489 crore in FY 2021-22.
The developer has commissioned a 450 MW wind-solar power plant in Rajasthan. With this, it has reached a cumulative hybrid power generation capacity of 1.44 GW.
Ambitious government targets and commitments by both private and state-owned companies will propel renewable energy installations.
The developer’s three arms, which collectively have 930 MW of operational solar power projects, have raised INR 612.30 crore (US$81.96 million) through their maiden domestic bond issuance. The proceeds will be utilized to part-refinance existing rupee term loan bearing higher interest cost.
The growth in acquisitions was supported by conducive global financial conditions and accommodative monetary policy maintained by the Reserve Bank of India.
The operating solar assets benefit from a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) at an INR 4.235/kWh tariff. The remaining PPA life is 22 years.
The diversified business group with a 25 GW renewable energy portfolio will invest US$20 billion across renewable energy generation, component manufacturing, transmission, and distribution over the next ten years.
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