Ahmedabad, Oct 22
On Tuesday, Adani Green Energy Ltd (AGEL) announced a 27% YoY increase in cash profit to Rs 2,640 crore, along with a 20% increase in EBITDA to Rs 4,518 crore for the first half of FY25.
EBITDA from power supply increased by 17% on a quarterly basis, from Rs 1,835 crore in Q2 FY25 to Rs 2,143 crore in Q2.
Revenue increased by 20% in the first half of the current fiscal year, from Rs 4,029 crore in H1 FY24 to Rs 4,836 crore in H1 FY25.
According to a statement from the Adani Group company, the solid greenfield capacity addition of 2,868 MW and steady plant performance are the main drivers of the excellent revenue, EBITDA, and cash profit growth.
Significant greenfield capacity expansions and great operating efficiency are the main drivers of Adani Green Energy Ltd.’s financial performance, according to CEO Amit Singh.
With ambitions to increase our merchant and C and I exposure to 15% by 2030, Singh stated that entering the commercial and industrial (C and I) arena by signing our first deal demonstrates our dedication to decarbonizing industries.
“A strong capital management strategy with the highest level of credit discipline is what propels our growth. We fully redeemed the $750 million Holdco bond in accordance with our pledge after delivering the desired capacity growth, which led to a systematic deleveraging,” Singh said.
With greenfield additions, such as 2,000 MW of solar and 250 MW of wind power in Khavda, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat, the operational capacity increased by an astounding 34% year over year to 11,184 MW.
Strong operational efficiency and substantial capacity increases drove a 20% YoY growth in energy sales.
AGEL’s PPA-based power generation accounted for 111% of the yearly obligation in FY24. According to the corporation, AGEL has already produced 57% of the yearly obligation in H1 FY25.
Under a 25-year power purchase agreement with MSEDCL, AGEL has been granted a letter of award to deliver 5 GW of solar energy. This greatly strengthens its contracted portfolio and helps it reach its 2030 target of 50 GW.
“With at least 5 GW of energy storage, Adani Green is well on track to meet its 2030 RE capacity target of 50 GW,” Singh stated.
