AGEL Announces Q3 Results. Ebitda From Power Supply Up 56% YOY

Adani Green Energy Limited (AGEL), the green energy development arm of the Adani Group has announced its results for the 9 months ending December 2021. With operational capacity increasing by 83% to 5410 MW, the company has a strong set of results to show for Q3, even as the Adani group embarks on a massive investment plan for the renewable energy sector.

“The continued robust operational performance and improving visibility of growth with firm PPAs demonstrate that we are well on track to become the largest renewable player by 2030” said Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd. He further said, “Our commitment towards ESG is only getting stronger with the global recognition of our efforts to light up the world with green energy and to further incorporate the best ESG practices on all fronts.”

During the quarter, the company added the portfolio of SB energy which it had acquired in 2021. That also led to higher solar and wind CUF’s, besides the addition of new project commissionings.

During the quarter, the firm also became the first Indian member of GRI South Asia charter strengthening its commitment for sustainability imperatives as per UN SDG 7, 9 and 13

The commitments towards SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate Action) include a target of having operating renewable energy generation capacity of 25 GW by 2025 and 45 GW while keeping the average tariff below national Average Power Purchase Cost (APPC). The cost reduction will be achieved by improvement of technology, optimization of resources using Internet of Things (IoT) and machine learning related digital interventions.

 AGEL receives initial FTSE ESG score of ‘FTSE4Good’ leading to its inclusion in the FTSE Russel’s ESG focused indices.