Ahmedabad, Oct 22 (SocialNews.XYZ) Adani Green Energy Ltd (AGEL) on Tuesday reported 20 per cent EBITDA growth at Rs 4,518 crore in the first half of FY25, as cash profit surged by 27 per cent YoY to Rs 2,640 crore.
On the quarterly basis, EBITDA from power supply saw 17 per cent growth at Rs 2,143 crore in Q2 FY25, from Rs 1,835 crore in the previous quarter.
In the first half of current fiscal, the revenue surged 20 per cent to Rs 4,836 crore in H1 FY25, from Rs 4,029 crore in H1 FY24.
The strong revenue, EBITDA and cash profit growth is primarily backed by robust greenfield capacity addition of 2,868 MW and consistent plant performance, the Adani Group company said in a statement.
Amit Singh, CEO of Adani Green Energy Ltd, said the financial performance continues to be strong, driven by significant greenfield capacity additions and robust operational efficiency.
“Entering the commercial and industrial (C and I) space by signing our first contract underscores our commitment to decarbonising industries, with plans to expand our merchant and C and I exposure to 15 per cent by 2030,” said Singh.
“Our growth is driven by a robust capital management plan with utmost credit discipline. Having delivered the intended capacity growth, we completely redeemed the $750 million Holdco bond in line with our commitment, resulting in systematic deleveraging,” Singh noted.
The operational capacity was expanded by an impressive 34 per cent YoY to 11,184 MW, with greenfield additions, including 2,000 MW of solar capacity and 250 MW wind capacity in Khavda, 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat.
Energy sales was increased by 20 per cent YoY propelled by the robust capacity additions and strong operational performance.
“In FY24, AGEL’s PPA-based electricity generation was 111 per cent of the annual commitment. In H1 FY25, AGEL has already generated 57 per cent of the annual commitment,” said the company.
AGEL has received letter of award to supply 5 GW of solar energy under 25-year power purchase agreement with MSEDCL. This significantly bolsters its contracted portfolio and propels it forward to its 50 GW goal by 2030.
“Adani Green is well on track to achieve its 2030 RE capacity target of 50 GW, including at least 5 GW of energy storage,” said Singh.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
