Adani Green Q1 Update: Energy sales rise 22% YoY; operational capacity jumps 31%
Operational capacity grew by 31% compared to the same period last year, reaching 10,934 MW. This growth was driven by the addition of new solar and wind power plants, with 2,418 MW of solar and 200 MW of wind capacity coming online.
on Tuesday said its energy sales rose 22% year-on-year to 7,356 million units during the first quarter, backed by robust capacity addition.The operational capacity during the reporting period increased 31% year-on-year to 10,934 MW with greenfield addition of 2,418 MW solar and 200 MW wind power plants.
The company said there was steady growth in power generation at a CAGR of 49% over the last 4 years with an increasing proportion of merchant power.
The solar portfolio CUF (capacity utilisation factor) during the quarter stood at 25.4% backed by 99.4% plant availability. Meanwhile, the wind portfolio CUF came in at 36.2% and Hybrid portfolio CUF was at 46%.
The company operationalised 2,418 MW solar power plants during the first quarter with Greenfield addition of 2,000 MW in Khavda and 418 MW in Rajasthan.
Adani Green has also operationalised 200 MW Wind power plants in Gujarat during the reporting quarter.
The company has secured $400 million debt funding from international banks for solar generation capacity in Rajasthan and Gujarat, setting precedence for financing renewable projects with merchant exposure. This signalled a positive outlook for India’s merchant market.
On Tuesday, Adani Green shares closed 0.97% higher at Rs 1,758 on NSE.
Source: Stocks-Markets-Economic Times
