Adani Green Energy Ltd (AGEL), India’s foremost pure-play renewable energy firm, unveiled its financial performance. With a significant surge in revenue, EBITDA, and operational capacity, AGEL showcased robust growth driven by substantial capacity additions and consistent utilization factors across its solar and wind portfolios.
In FY24, AGEL reported a 46% increase in revenue from power supply, reaching Rs. 7,735 crore, accompanied by a 44% rise in EBITDA, totaling Rs. 7,222 crore. The company’s operational capacity expanded by 35% year-on-year to an impressive 10,934 MW, solidifying its position as India’s first renewable energy firm to surpass the 10,000 MW mark.
Furthermore, AGEL’s commitment to sustainability and innovation was underscored by its ambitious plans for renewable energy expansion. CEO Amit Singh revealed plans to commission at least 5 GW of hydro pumped storage projects by 2030, in addition to the company’s revised target of achieving 50 GW of renewable energy capacity by the same year. These initiatives align with India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030.
AGEL’s noteworthy achievements also extend beyond financial performance, with the company’s environmental, social, and governance (ESG) efforts earning accolades. Notably, AGEL’s sponsorship of the Energy Revolution: The Adani Green Energy Gallery at the Science Museum in London highlights its commitment to driving global awareness and action towards sustainable energy solutions.
The company’s recent milestones include the commencement of construction on its first hydro pumped storage project in Andhra Pradesh, signaling its foray into energy storage solutions. Additionally, AGEL’s successful refinancing of existing bonds and oversubscribed issuance of new bonds demonstrate investor confidence in the company’s long-term viability and strategic vision.
AGEL’s dedication to pioneering renewable energy deployment and storage solutions positions it as a key player in India’s clean energy transition, contributing significantly to the nation’s sustainable development goals.
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 unveils financial results for FY24, reporting robust growth in revenue and operational capacity. With ambitious renewable energy targets and a focus on sustainability, AGEL aims to lead India's clean energy transition. Explore AGEL's achievements, including its sponsorship of the Energy Revolution gallery in London, and its commitment to renewable energy deployment and storage solutions){kind=link}