Adani Green Subsidiary Builds 250 MW Solar Project At Rajasthan

Adani Green Subsidiary Commissions 250 MW Solar Project At Rajasthan

By Chitrika Grover/ Updated On Thu, Dec 12th, 2024

Highlights :

This project is located at Badi Sid, District in Jodhpur, Rajasthan.
The commissioning of this plant takes AGEL’s total operational renewable generation capacity to 11,434 MW

Adani Green Subsidiary Commissions 250 MW Solar Project At Rajasthan

Adani Green Energy Limited (AGEL), step-down subsidiary, Adani Green Energy Twenty Five Limited, recently commissioned its 250 MW solar power project. This project is located at Badi Sid, District in Jodhpur, Rajasthan. With the commissioning of this plant, AGEL’s total operational renewable generation capacity has increased to 11,434 MW.

Earlier this year, the company commissioned a 180 MW solar power plant at Devikot in Jaisalmer, Rajasthan. The plant has a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI).

The commissioning of its latest project in Rajasthan is set to build a stronghold on the Rajasthan market.

Adani Stronghold On Gujarat

Notwithstanding the interruptions in pace of renewable project installations, triggered by delayed monsoons, Adani Green is optimistic about its target of adding 6 GW of operational capacity in FY25. In its latest investors call, the top management of the firm expressed optimism on its growth trajectory for the current fiscal, with key projects in Khavda ser to be completed. These include both solar and wind projects.

The firm is under pressure to reassure investors after accusations of charges brought against key personnel first surfaced from the US last month. As most centered around Adani Green, the firm has borne the brunt of the impact, with stock prices down 30% since the news surfaced.

Establishing new projects on schedule seems to be the best possible retort for the firm, which has a strong pipeline in place towards its stated target of 50 GW by 2050. The tightness in access to financial markets outside India, especially the US until the charges are settled could put strain on the firm’s cost of capital, and affect margins.

On the other hand, the firm remains one of the most integrated renewable energy firms in the country, providing it a significant advantage in terms of control over costs and execution.