Adani Green Energy Arm Incorporates Subsidiary Adani Hydro Energy Five

Adani Green Energy Ltd.'s wholly owned subsidiary, Adani Saur Urja (KA) Ltd., has incorporated a step-down subsidiary named Adani Hydro Energy Five Ltd. on Tuesday.

The authorised capital and paid-up capital were both Rs 1,00,000, according to an exchange filing on the National Stock Exchange.

The main objective is to "generate, develop, transform, distribute, transmit, sale and supply" any kind of power or electrical energy through wind energy, solar energy or other renewable sources of energy.

Last week, Adani Green Energy reported strong financial health, led by high liquidity levels and a strong Ebitda performance in the first half of the current financial year.

The company's liquidity position was boosted by its substantial cash reserves, which gave a stockpile for its borrowing needs and created a buffer against potential market fluctuations.

As of September, AGEL, one of India's top renewable energy companies, reported strong cash reserves of Rs 10,209 crore. This provides the company with a solid cash-to-debt ratio, ensuring it can comfortably meet its financial obligations while maintaining operational stability. AGEL's gross debt is Rs 61,826 crore, and its net debt stands at Rs 51,617 crore.

Adani Green's trailing 12-month earnings before interest, taxes, depreciation, and amortisation for the same period reached Rs 9,940 crore, showing steady growth. The adjusted run-rate Ebitda for the same period was slightly higher at Rs 10,709 crore. This strong performance is backed by the fact that nearly 90% of AGEL’s power supply is contracted, providing stability to its earnings.

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