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Adani Green Energy’s management announced on Wednesday that the company will scale up its capital expenditure in 2021-22 to Rs 15,000 crore from Rs 8,500 crore that it invested in the year ended March to expand capacity.
Adani Green Energy reported a consolidated total comprehensible income of Rs 116 crore in the fourth quarter of FY21, as against Rs 82 crore a year ago. The company’s total income rose to Rs 1,082 crore in the March quarter from Rs 719 crore a year ago.
In the year 2021 the company added 925 MW of renewable energy company operational capacity despite the disruption due to the pandemic. Its new projects, the ones which have been awarded and those where it has emerged best bidder, stand at 13,550 mw. With this, the company will have a portfolio of around 20,000 MW said the company.
The company sold 1,482 million units of solar power in the March quarter, up 24% on from the previous year. Sale of electricity from wind energy projects increased 20% year-on-year to 132 million units. Consolidated net profit for FY21 was Rs 164 crore, as against a loss of Rs 18 crore a year ago. Total consolidated income rose to Rs 3,520 crore in the year from Rs 2,629 crore.
“Despite all the challenges resulting from the pandemic, we have been resolute in our execution and stay confident of emerging as the world’s largest renewable player before the end of the decade. We are also on track to contribute meaningfully to India’s COP21 goals as well as to the wider UNFCCC goals of sustainability,” Chairman Adani was quoted as saying in a company statement.
AGEL closed a $ 1.35 billion senior debt facility in FY21 with participation from 12 international banks to finance its under-construction renewable portfolio. “This strengthens AGEL’s strategy to fully fund its under construction asset portfolio and brings it a step closer to its vision of 25 gigawatts capacity by 2025,” the company said.