Adani Green Energy’s cash profit rose 32 per cent to Rs 1,390 crore in Q1FY25, revenue rose 24 per cent

(MENAFN- IANS) Ahmedabad, July 25 (IANS) Adani Green energy Ltd (AGEL) on Thursday posted solid results for the April-June quarter (Q1) of the current financial year, reporting a 23 per cent growth in EBITDA at Rs 2,374 crore, an industry-leading performance, while cash profit rose 32 per cent (year-on-year) to Rs 1,390 crore.

Total revenue for India’s largest and fastest-growing pure-play renewable energy company rose an impressive 24 per cent to Rs 2,528 crore in the quarter.

As the company said in a statement, the dynamic growth in revenues, EBITDA and cash profit is primarily the result of a 2,618 MW capacity increase over the past year.

Amit Singh, CEO of Adani Green Energy, said the company is working relentlessly to set up the world’s largest single renewable energy power plant of 30 GW at Khavda in Gujarat.

“To enable accelerated implementation, we have deployed advanced robotics technology for solar module installation, which has significantly increased productivity. We have also developed an extensive local supply chain and established sustainable human resource mobilization,” he said.

AGEL this week commissioned the first 250MW wind turbine at the world’s largest renewable power plant, the 30,000MW (30GW) Khavda site.

With this milestone, Khavda Power Plant has achieved a total capacity of 2,250 MW, consolidating AGEL’s position as the leader in India with the largest operating portfolio of 11,184 MW.

In the April-June quarter, operational capacity grew by an impressive 31 per cent to 10,934 MW, with greenfield additions including 2,000 MW of solar capacity at Khavda, 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat. Power sales grew by 22 per cent year-on-year to 7,356 million units, driven by solid capacity additions and strong operational performance, the company said.

“Adani Green is well on track to achieve its 2030 target of 50 GW, including at least 5 GW of pumped-storage. Sites are already secured and evacuation is fully transparent,” the company’s CEO said.

For fiscal 2024, the company reported a 30 per cent growth in EBITDA at Rs 7,222 crore as the leading renewable energy producer revised its 2030 target from 45 GW to 50 gigawatts (GW).

The Khavda renewable power plant covers an area of ​​538 square kilometers, almost five times larger than the area of ​​Paris.

It is not only the world’s largest single-site renewable power plant, but also the world’s largest single-site power plant of any energy source. Within 12 months of the start of construction, AGEL has already commissioned the first 2 GW and plans to add a total of 6 GW in fiscal 2025, with Khavda contributing a significant portion of this capacity. The entire 30 GW of renewable energy will be developed at Khavda by 2029, also setting a global benchmark for the speed of implementation on such a large scale, the company said.

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