One of the Adani Group stocks engaged in renewable power generation and other ancillary activities has jumped 2.01 percent after commissioning two renewable energy projects and incorporating its subsidiary.
Stock Price Movement
In Monday’s trading session, Adani Green Energy Limited’s share jumped to an intraday high of 2.01 percent from the previous close of Rs. 1,053.75. The stock opened at Rs. 1,061.70 and is currently trading at Rs. 1,072.50, with a high of Rs. 1,074.90 and a low of Rs. 1,047. The market capitalization now stands at approximately Rs. 1,69,697.40 crore.
What Happened
Adani Green Energy Limited (AGEL) has commissioned two renewable energy projects at Khavda, Gujarat. The 62.4 MW wind power project and the 112.5 MW solar power project have boosted AGEL’s total operational renewable capacity to 11,608.9 MW.
Additionally, Adani Green Energy Limited (AGEL) has incorporated a wholly-owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L). AGE68L aims to generate and distribute power using renewable energy sources such as wind and solar.
The company is yet to commence operations, and AGEL holds 100% of its share capital. The incorporation of AGE68L supports AGEL’s growth strategy in the renewable energy sector.
Capacity Addition
Adani Green Energy Limited has added 2.9 GW of greenfield capacity, bringing its total operational capacity to 11.2 GW. The company is constructing the world’s largest renewable energy plant in Khavda, Gujarat, with 30 GW capacity, and plans to deliver around 6 GW of renewable capacity in FY25.
Business Development
Adani Green Energy Limited has secured a 25-year fixed tariff PPA to supply 5 GW of solar power to Maharashtra State Discom.
Additionally, the company signed its first C&I agreement to provide 61 MW of renewable energy to a data center supporting Google’s carbon-free energy goal. The significant drop in battery storage prices by 66% over the last two years creates new opportunities for integrating solar plants with storage solutions.
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Strategic Partnerships
Adani Green Energy Limited (AGEL) has strengthened its partnership with TotalEnergies through a joint venture, adding a 1.15 GW renewable portfolio with an investment of $444 million.
AGEL is also the first Indian renewable energy company to join the Utilities for Net Zero Alliance, maintaining top ESG rankings globally.
Recent quarter results and ratios
Adani Green Energy Limited’s revenue has increased from Rs. 2,220 crore in Q2 FY24 to Rs. 3,055 crore in Q2 FY25, which has grown by 37.61 percent. The net profit of Adani Green Energy Limited has also grown by 38.81 percent from Rs. 371 crore in Q2 FY24 to Rs. 515 crore in Q2 FY25.
Adani Green Energy Limited’s revenue and net profit have grown at a CAGR of 43.44 percent and 90.59 percent, respectively, over the last three years.
In terms of return ratios, the company’s ROCE and ROE should be 9.65 percent and 14.7 percent, respectively. The debt-to-equity ratio of the company is to be 6.38x. Adani Green Energy Limited’s EPS is to be Rs. 7.32.
Company Overview
Adani Green Energy Limited (AGEL) was established on January 23, 2016, and is a subsidiary of the Adani Group. AGEL is headquartered in Ahmedabad and is a leading renewable energy company in India, focusing on solar, wind, and hybrid power plants, with a current operational capacity of around 11.2 GW across 12 states.
Written By – Nikhil Naik
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