Adani Green Energy's Sales Rise 20%, Capacity Grows 34% In First Half Of FY25

Adani Green Energy Ltd. reported a 34% year-on-year increase in operational capacity in the first half of fiscal 2025, reaching 11,184 MW. This growth was driven by greenfield additions, including 2,418 MW of solar power and 450 MW of wind power plants. The company also noted a 20% YoY rise in energy sales, with 14,128 million units sold.

• Solar portfolio Capacity Utilisation Factor stood at 23.9%, supported by 99.4% plant availability.

• Wind portfolio CUF reached 35.7%, with plant availability at 95%.

• The hybrid portfolio achieved a CUF of 42.9% with 99.6% plant availability.

The company has a "continued focus on new capacity addition and consistent superior plant performance", a press release on Friday said.

It has recorded a compounded annual growth rate of 49% over the past four years, with a growing share of merchant power. Additionally, the company continues to exceed its power purchase agreement commitments.

• Awarded a Letter of Award from MSEDCL to supply 5 GW of solar power for 25 years.

• Signed its first commercial and industrial agreement to supply 61 MW of renewable energy to Google's data centre.

• Completed the formation of a joint venture with TotalEnergies SE for a 1,150 MW renewable energy portfolio, receiving an investment of $444 million.

• Fully redeemed a $750 million Holdco bond, reinforcing its capital management.

• Became the first renewable energy company in India to join the 'Utilities for Net Zero Alliance' at COP28.

Adani Green Energy stock rose as much as 1.49% during the day. It was trading 0.04% lower at Rs 1,779.85 apiece, compared to a 0.09% decline in the benchmark Nifty 50 as of 10:40 a.m. 

It has risen 84.88% in the last 12 months and 11.33% year-to-date. The relative strength index was at 38.97.

Of the four analysts tracking Adani Green Energy, three have a 'buy' rating on the stock and one suggests a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 12%.

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