Adani Green Energy Ltd (AGEL) has secured USD 400 million financing from a consortium of five international banks for its upcoming solar projects totaling 750 MW in Gujarat and Rajasthan. These projects are slated to commence operations from November 2024 onwards. One of the projects, a 500 MW capacity development in Rajasthan, has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI).
The company has brought 2,848 MW renewables capacity on stream in FY24, according to a company statement. AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity.
Adani Green news today: Adani Green Energy Limited (AGEL) has successfully commissioned a 551 MW solar power project in Khavda, Gujarat, enhancing the nation's power infrastructure. "Adani Green Energy is creating one of the world’s most extensive renewable energy ecosystems for solar and wind,” stated Gautam Adani, the Adani Group's chairman., Companies News, Times Now
In a filing to BSE, Adani Green Energy said it achieved the milestone within 12 months of commencing work on the Khavda RE park, starting with the development of basic infrastructure, including roads and connectivity, and creating a self-sustaining social ecosystem.
Adani Green Energy share price: The company, which is a part of billionaire Gautam Adani's ports-to-power conglomerate, recently recorded a strong jump in its quarterly profit. Adani Green said its third-quarter (Q3 FY24) profit more than doubled from a year earlier, helped by robust power sales to customers and higher capacity utilisation.