Ahmedabad, October 22 (IANS). Adani Green Energy Limited (AGEL) declared results on Tuesday. In the first half of the current financial year (2024-25), the company’s EBITDA has increased by 20 percent year-on-year to Rs 4,518 crore.
During the April to September period, AGEL’s cash profit has increased by 27 percent year-on-year to Rs 2,640 crore.
EBITDA from energy supply increased by 17 percent quarter-on-quarter to Rs 2,143 crore in the second quarter of FY 2024-25, from Rs 1,835 crore in the previous quarter.
In the first half of the current financial year, there has been a 20 percent jump in income on an annual basis and it has increased to Rs 4,836 crore. In the same period last year, this figure was Rs 4,029 crore.
Adani Green Energy CEO Amit Singh said the financial performance remains strong due to significant greenfield capacity additions and strong operating efficiencies.
We have entered this sector by signing the first contract in the Commercial and Industrial (C&I) sector. Our plan is to increase it to 15 percent by 2030.
The company’s operating capacity has grown 34 per cent year-on-year to 11,184 MW, which includes 2,000 MW solar capacity and 250 MW wind capacity in Khavra, 418 MW solar capacity in Rajasthan and 200 MW wind capacity in Gujarat.
Energy sales grew 20 percent year-on-year due to strong capacity additions and strong operating performance.
Recently AGEN has entered into a 25 year Power Purchase Agreement (PPA) with MSEDCL for the supply of 5 GW of renewable energy.
Singh further said that AGEN is moving fast on the path to achieving the target of 50 GW by 2030. It also includes an energy storage capacity of 5 GW.
–IANS
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