Ahmedabad (Gujarat) [India], October 23 (ANI): Adani Green Energy Ltd (AGEL) reported a 20 per cent year-on-year (YoY) growth in EBITDA for the second quarter of the 2025 financial year (FY), reaching Rs 4,518 crore.
These quarterly results are driven by significant capacity additions and robust operational performance.
According to AGEL’s financial statement, the company has made major strides in expanding its operational capacity, growing by 34 per cent YoY to 11.2 GW. Energy sales rose by 20 per cent YoY to 14,128 million units, while revenue increased by 20 per cent YoY to Rs 4,836 crore.
The company’s energy sales in the second quarter were propelled by these capacity additions and strong operational performance.
AGEL also achieved an EBITDA margin of 92.2 per cent, further supported by advanced data analytics and artificial intelligence-based management systems, the company stated.
AGEL’s operational capacity expanded by 34 per cent YoY to 11,184 MW, including major greenfield additions such as 2,000 MW of solar capacity and 250 MW of wind capacity at Khavda, as well as 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat.
AGEL’s operational excellence is enhanced by sophisticated operations and maintenance (O&M) practices. Using machine learning and artificial intelligence, the company exceeded its annual commitments under power purchase agreements (PPA), generating 111 per cent of the expected electricity in FY24 and achieving 57 per cent of the target in H1 FY25.
Commenting on the results, Amit Singh, CEO of Adani Green Energy Ltd, said: “Our financial performance continues to be strong, driven by significant greenfield capacity additions and robust operational efficiency. Entering the C&I space by signing our first contract underscores our commitment to decarbonising industries, with plans to expand our merchant and C&I exposure to 15 per cent by 2030. Our growth is underpinned by a robust capital management plan with strict credit discipline. Having delivered the intended capacity growth, we fully redeemed the USD 750 million Holdco bond as committed, resulting in systematic deleveraging.”
He added: “We remain focused on best-in-class sustainability and governance practices, and the reaffirmation of our top rankings by global ESG rating agencies only strengthens our resolve to deliver sustainable and industry-leading growth. Adani Green is well on track to achieve its 2030 renewable energy capacity target of 50 GW, including at least 5 GW of energy storage.”
One of AGEL’s most significant projects is the ongoing development of the world’s largest renewable energy plant at Khavda, Gujarat, with a capacity of 30 GW, the company noted.
This project, spread over an area of 538 sq km – almost five times the size of Paris – will set a global benchmark for ultra-large-scale renewable energy plant development.
Within just 12 months of breaking ground, AGEL has operationalised 2 GW of solar capacity and 250 MW of wind capacity, with rapid progress expected in the second half of FY25, according to the statement.
AGEL is using advanced bifacial solar modules and India’s largest 5.2 MW wind turbines to maximise electricity generation. The plant also features robotic cleaning systems, reducing water usage and improving efficiency.
AGEL’s contracted portfolio received a major boost with the award of a 5 GW solar Power Purchase Agreement (PPA) from the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL). Additionally, AGEL entered the commercial and industrial (C&I) segment by signing an agreement to supply 61.4 MW of renewable energy to power a data centre, advancing Google’s 24/7 carbon-free energy goals for its operations in India.
Highlighting a financial milestone, the company stated that it has fully redeemed its USD 750 million Holdco Notes, which were due in September 2024. The company redeemed the bonds using cash rather than refinancing, demonstrating its commitment to financial stability.
AGEL has also strengthened its strategic partnership with TotalEnergies, forming a joint venture to manage a portfolio of solar projects totalling 1,150 MW.
TotalEnergies contributed USD 444 million to accelerate the development of these projects, further reinforcing AGEL’s growth trajectory.
On the environmental, social, and governance (ESG) front, AGEL has retained its top rankings, becoming the first renewable energy company in the country to join the “Utilities for Net Zero Alliance” established at COP28. (ANI)
