News

Published: Feb 9, 2023
Updated: Feb 9, 2023

Adani Green Energy Reports Strong Q3 Results

Adani Green Energy saw its consolidated net profit more than double in the December quarter, reaching Rs 103 crore. This significant increase was primarily due to higher revenues, with total income rising to Rs 2,258 crore from Rs 1,471 crore in the same period last year.

Solar and Wind Energy Driving Growth

The improvement in the company's performance can be attributed to a number of factors, including higher capacity utilization in the solar sector and increased sales of energy. Adani Green Energy's operating capacity is set to reach 8,300 MW by the end of the fiscal year, making it the largest renewable energy company in India. The company's newly commissioned solar-wind hybrid plants of 1,440 MW also employ cutting-edge technologies, such as bi-facial PV modules and horizontal single-axis tracking, which help to capture maximum energy from the sun and wind.

Wind CUF Impacted by Transmission Line Disruption

While the company's wind portfolio has seen significant growth, the capacity utilization factor (CUF) for wind energy has decreased due to a one-time disruption in a transmission line for a 150 MW plant in Gujarat. However, the line has now been fully restored, and Adani Green Energy is well on its way to achieving its long-term renewable capacity addition target.

Adani Group's Portfolio Reaches 20.4 GW

As part of the Adani group, Adani Green Energy has an overall portfolio of 20.4 GW, including operating, under-construction, and awarded projects. The company is committed to leading the way in large-scale adoption of affordable clean energy in India and is poised to make steady progress in this endeavour.

Well positioned to take advantage of the expanding Indian energy market

Adani Green Energy's strong Q3 results, combined with its commitment to leading the way in renewable energy in India, paint a bright picture for the company's future. With cutting-edge technology and a portfolio that continues to grow, Adani Green Energy is well positioned to take advantage of the rapidly expanding renewable energy market in India.