Adani Green Reports 49% Increase In Renewable Energy Capacity In FY23

Adani Green Energy Limited (AGEL), the renewable energy arm of the Adani Group, on Friday, reported a 49 percent addition to its total renewable energy capacity in the fiscal year 2023. As a result, the total capacity of AGEL-owned renewable energy touched 8,086 Megawatt (MW) with the recorded rise.

In its latest provisional annual consolidated operational update, AGEL said that while its operational capacity increased 49 percent in the last year, its energy sales witnessed a 58 percent rise during the same period. Data suggested that AGEL had a total of 5,410 MW of operational capacity of renewables in FY 2022. However, with the latest capacity addition, it increased to 8,096. The steep rise is with the significant rise of its hybrid project during the last year. 

Similarly, in terms of its energy sales, while in FY22, the total sale of energy stood at 9,426 million units, it increased to 14,880 million units in FY23, the firm said in its disclosure. AGEL also noted that during this period, it commissioned its 2,140 MW of solar-wind hybrid power cluster in Rajasthan, India’s first and the world’s largest such project. In addition, it also started its 325MW of wind power plant in Madhya Pradesh and a 212 MW solar power plant in Rajasthan. 

The documents from AGEL also said that in its newly started solar-wind hybrid projects, its solar capacity stood at 1,980 MW while its wind capacity stood at 868MW. Furthermore, AGEL noted that the Capital Utilisation Factor of 35.5 percent was backed by technologically advanced solar modules, wind turbine generators, and high plan and grid availability. 

The source-wise breakup of the firm claimed that out of the 8,086MW of its renewable capacity, 4,975 Mw comes from solar, 971 MW from wind, and 2,140 from its hybrid projects. On the other hand, AGEL, while it has till now 8,086 MW of renewable capacity, it has planned to scale it up and increase it up to 45,000 MW by the end of 2030. 

Earlier in March 2023, AGEL, in its statement, claimed that its fourth wind-solar hybrid plant of 700MW was operational at Jaisalmer in Rajasthan, where it signed a long-term PPA with the local discom at the rate of Rs 3.24/kWh.

AGEL had claimed that with the operation of this plant, AGEL became the world’s largest wind-solar hybrid power plant owner and hosted the largest operating renewable portfolio in India.