Investors bet big on Adani Green, but risk-reward outlook is open question

Share of AGEL, which is into solar and wind power, jumped over six times in 2020 versus a gain of 10% for the NSE's Nifty 100 Index - the first and only green energy company to do so in India

Port-to-power behemoth Adani Enterprises’ tryst with renewable energy started in 2009 with the Vibrant Gujarat Summit when it signed memorandums of understanding to develop renewable projects in the state. In 2011, it commissioned a 40-megawatt (Mw) solar power project in Bitta, Gujarat, marking its entry into the sector. A decade later, the group’s renewable capacity has exceeded 14 gigawatt (Gw) and it now has a separate entity for it — Adani Green Energy Ltd (AGEL).
 
Those watching the stock market closely would jump at the mention of AGEL, which listed in 2018. Share of AGEL, which is into solar