Adani Green Energy Ltd (AGEL) has announced financial results for the nine months ended Dec. 31, 2024. Revenue from power supply is up 18% year-on-year at INR 6,829 crore. EBITDA from power supply increased by 18% YoY to INR 6,366 crore with EBITDA margin of 92%. Cash profit is up by 23% YoY at INR 3,630 crore.
The company attributed the strong growth in revenue, EBITDA and cash profit to primarily the greenfield capacity addition of 3.1 GW and consistent plant performance.
AGEL’s greenfield additions during 9M FY 2025 included 2,113 MW of solar capacity and 312 MW wind capacity in Khavda, 580 MW of solar capacity in Rajasthan, and 126 MW of wind capacity in Gujarat, taking AGEL’s overall operational capacity to 11,609 MW. Energy sales increased by 23% YoY to 20,108 million units.
AGEL is developing a 30 GW renewable energy plant at Khavda in Gujarat. Out of the planned capacity, 2.4 GW is already operational. The complete 30 GW is set for commissioning by 2029.
Amit Singh, CEO, Adani Green Energy Ltd, stated, “We are steadily developing the world’s largest RE plant in Khavda, Gujarat as well as large-scale plants in Rajasthan and other sites, supported by well aligned transmission planning. We have upgraded our supply chain to meet current and future regulatory compliances”
Singh said AGEL’s updated strategy now includes large-scale deployment of battery energy storage systems (BESS), given significant cost declines in last few quarters. “BESS can be deployed relatively quickly and will be crucial in grid integration, supporting rapid renewable growth and complementing our existing solar, wind and hydro pumped storage projects,” he added.
Singh said that the financing tie-up is completed well in advance for all of AGEL’s projects backed by a robust capital management program with a diversified pool of capital.
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