With a project portfolio of 4,560 MW, Adani Group is planning to consolidate its energy business by tapping into the renewable energy segment
In a planned expansion of its energy business, the Adani Green Energy (AGEL) plans to add over 800 MW of renewable energy projects in the current financial year and 3300 MW in two more years.
“Adani Green Energy plans to add over 800 MW of new capacity of wind and solar projects during the current financial year. Adani Green is India’s one of the fastest-growing renewable energy firms with over 2000 MW of operational assets and 3300 MW capacity to be commissioned in two more years to become 5,000 MW renewable entity by 2022,” it said in a statement on Wednesday.
The release is a part of Adani’s green energy segment – which has targeted power generation capacity of 10,000 MW by 2022, all through its solar and wind energy projects. Click To Tweet“We are committed to create a greener future. Our vision is to have a portfolio of 10 GW of renewable energy projects by 2022. We are investing to tap value-accretive opportunities to deliver on this goal. AGEL is the first Indian company to reach the milestone of 4.5 GW organically,” stated Adani Green CEO Jayant Parimal.
Adani Green also already sought shareholders’ nod to raise money to fund its renewable energy projects – the cumulative amount of which could reach upto Rs 5000 crores. The approval should go down well with the investors and shareholders, considering the company sold 1,058,475 MW per hour in the quarter ended on June 30 in 2019.
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The report also stated the group’s intention and operational progress as it outlined the work already done by Adani Green. As it stands, the group ‘is the only Indian pure play renewable energy company to be listed on Indian stock exchanges’ and disclosing its financial and operational performance periodically.”
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