H1 Update: Adani Green Increases Its Capacity Upto 11.20 GW

H1 Update: Adani Green Increases Its Capacity Upto 11.20 GW

Adani Green, the project developer company of the Adani Group today revealed that its operational capacity has progressed from 8.31 GW (H1 of FY24) to 11.20 GW in H1 of 2024-25. Its current capacity comprises 2,418 MW of solar and 450 MW of wind power plants.

The port-to-airport conglomerate has increased its presence in the Indian energy market through its footprints in solar module and cell manufacturing, renewable project development, power transmission, data centers and others.

Buoyed with the recent achievements and order book, the company is now confident in dominating the project development arena in the Indian renewable project landscape.

As per its latest disclosure before the Stock Market, the company in FY19 had a total capacity of 2 GW and reached 11.20 GW in H1 of FY25 with a CAGR of 37%. It estimates that it will grow with a CAGR of 31% from its current capacity to reach its target of 50 GW capacity by FY30.

Currently, its portfolio comprises 66 percent solar projects, 15% wind projects and 19% hybrid projects. On the other hand, its projects for 2030 revealed that its solar portfolio is likely to go up to 71% of its total renewable project share.

Adani Green renewable energy portfolio. Source: AGEL Operational Capacity H1 Report. 

Wind projects will account for 13%, hybrid projects for 5%, and 11% of the portfolio will come from Pumped Hydro Storage Projects (PSPs), which the company plans to develop. By 2030, Adani Green aims to develop 5 GW of PSPs in states like Andhra Pradesh, Maharashtra, Tamil Nadu, and Uttar Pradesh.

In its latest operational capacity update for H1 FY25, Adani Green reported achieving a capacity utilization factor (CUF) of 23.9% from solar projects, 35.7% from wind projects, and 42.9% from hybrid projects.

Boost in demand

One of the key drivers of Adani Green’s growth is the ambitious Khavda renewable park project, where the company plans to add 30 GW of capacity.

In its last investor call (June 30, 2024), Amit Singh, CEO of Adani Green, discussed the company’s plan to add around 6 GW of green energy capacity in FY25, with a specific focus on Khavda. “We are projecting additional 6 gigawatt capacity for this year, out of which we have just commissioned 250 megawatt wind, which will essentially become a backbone of our operations in Khavda. Going forward, the majority of our operations are targeted towards, you know, solar in both Rajasthan and Khavda, but we’re expecting close to 700 megawatt of additional wind capacity, which will come in during the rest of the year.”

Adani Green growth in capacity and forecast. Source: AGEL H1 Report

Other positive developments have further fueled Adani Green’s growth in the Indian renewable energy sector. The company has received a Letter of Award from the Maharashtra government for the supply of 5 GW of solar power over 25 years.

Additionally, Adani Green has signed its first Commercial and Industrial (C&I) agreement to supply 61 MW of renewable energy to power Google’s data center. The company has also entered into a Joint Venture (JV) with TotalEnergies for a 1,150 MW renewable portfolio, receiving an investment of USD 444 million towards the initiative, the Operational Capacity H1 Report for FY25 of AGEL said.