Adani Green Energy puts Rs 10,000-crore capex plan under review

Company to reduce capex in near term; execs say large part of it can be discretionary

India’s largest green energy company, Adani Green Energy (AGEL), has decided to review its capital expenditure (capex) plan of Rs 10,000 crore for financial year 2023-24 (FY24). In a post-third quarter results call with its bond holders, AGEL’s management said this was a tentative target and was still under review.

This marks a change in AGEL’s stated plans on its capex. Last week, addressing the earnings call, the AGEL management had said it has planned a capex of “broadly” Rs 10,000 crore for FY24 and a similar amount for FY25.

“Short-term capex (12-18 months) is being reviewed. In the near