Adani Green Energy rose 1.75% to Rs 1,014.45 after the company said its subsidiary has commissioned 150 MW solar power plant, three months ahead of scheduled date of commissioning.
Adani Solar Energy Kutchh One, a step-down subsidiary of Adani Green Energy (AGEL) has commissioned 150 MWac solar power project. Despite all the challenges of global pandemic COVID-19, unprecedented rain and flood in Kutchh, Gujarat, continuing with the Group's commitment to nation building, the team of experts made it possible to commission the project 3 months prior to its scheduled commissioning date.This plant has a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL's total operational renewable capacity grows to 3,125 MW.
With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects.
AGEL's consolidated net profit dropped 86.5% to Rs 13.71 crore on a 11.1% fall in net sales to Rs 599.95 crore in Q2 September 2020 over Q2 September 2019.
AGEL, a part of the diversified Adani Group, has 14.2 GW of operating, in-construction and awarded wind and solar parks, making it the largest solar power developer in the world. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
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