Adani Green Energy Records Strong Financial Performance

Adani Green Energy Ltd (AGEL) continues to shine with a stellar financial performance in FY24, reporting a remarkable 30% YoY growth in EBITDA to Rs. 7,222 crore.

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TICE Creative Image | Adani Green Energy Ltd FY 2024 Financial Results

Adani Green Energy Ltd (AGEL), India's leading pure-play renewable energy company, unveiled its financial results for the quarter and fiscal year ending 31 March 2024, showcasing robust growth and strategic initiatives for the future.

Adani Green Energy Surpasses Expectations: Reports 30% YoY EBITDA Growth in FY24

Financial Highlights of FY24: AGEL reported a significant 30% year-on-year increase in EBITDA, reaching Rs. 7,222 crore. This remarkable growth was underpinned by a surge in revenue and cash profit. The company's run-rate EBITDA reached an impressive Rs. 10,462 crore, a testament to its strong financial performance. Notably, the Net Debt to Run-rate EBITDA ratio improved to 4.0x from 5.4x in the previous year, reflecting enhanced financial stability.

AGEL Raises Renewable Energy Target to 50 GW by 2030 Amidst Strong Financial Performance

Expansion and Targets: In line with its commitment to sustainable energy, AGEL revised its renewable energy (RE) target for 2030 upwards to 50 GW from the previous 45 GW. This ambitious goal is set to contribute significantly to India's non-fossil fuel capacity target of 500 GW by 2030.

Adani Green Energy Leads Renewable Sector with 2.8 GW Capacity Addition in FY24

Operational Achievements: AGEL achieved a greenfield capacity addition of 2.8 GW in FY24, marking a substantial 15% of India's total renewable energy capacity addition. Operational capacity grew by an impressive 35% year-on-year to 10,934 MW, making AGEL the first company in India to surpass the milestone of 10,000 MW of renewable energy capacity. This operational portfolio is projected to power over 5.8 million homes and mitigate approximately 21 million tonnes of CO2 emissions annually.

AGEL Sets New Standards: Achieves 10,934 MW Operational Capacity Milestone

Key Milestones and Initiatives: AGEL made significant strides in its operational and environmental endeavors. The company successfully operationalized 2 GW of renewable capacity within 12 months at Khavda, Gujarat, as part of its 30 GW renewable energy project. AGEL is pioneering the deployment of innovative technologies, such as n-type bifacial solar modules and large-scale wind turbines, to maximize energy generation while minimizing costs.

AGEL Spearheads Clean Energy Transition: Unveils Ambitious Plans for Hydro Pumped Storage Projects

In March 2024, AGEL sponsored the opening of the Energy Revolution: The Adani Green Energy Gallery at the Science Museum in London, showcasing the company's commitment to sustainable energy practices and innovation.

Furthermore, AGEL received accolades for its environmental, social, and governance (ESG) efforts, including being rated 'A-' in CDP Climate Change 2023 assessment and achieving the prime 'B+' band for robust ESG practices.

Adani Green Energy Gallery Opens in London: Showcasing Sustainable Energy Innovations

Future Outlook: AGEL is poised to continue its trajectory of growth and innovation, with plans to develop 5 GW+ hydro pumped storage projects by 2030, in addition to its existing portfolio. By focusing on storage solutions and leveraging technology, AGEL aims to accelerate the integration of renewables into the grid, contributing significantly to India's clean energy transition.

What is Adani Green Energy Limited

Adani Green Energy Limited (AGEL) is India's largest renewable energy company, dedicated to facilitating the clean energy transition. With a current operating portfolio of 10.9 GW spread across 12 states, AGEL is committed to achieving 50 GW of renewable capacity by 2030. The company's sustainable practices and focus on technological innovation underscore its mission to drive affordable clean energy adoption.