Adani Green Energy (AGEL) announced that its wholly-owned subsidiary, Adani Renewable Energy Holding Fifteen (AREHFifteenL) has secured a 150 MWac solar power project in Gujarat.
AREHFifteenL had participated in a tender issued by Torrent Power for procurement of power through competitive bidding process, from grid connected solar photovoltaic power projects to be setup in Gujarat.The fixed tariff for the project capacity is Rs 2.22/ kWh for a period of 25 years. The project is expected to be commissioned by Q3 FY2023.
Currently 3,520 MWac of renewable energy projects are operational. With this, AGEL now has a total portfolio 15,390 MWac of renewable energy project capacity, out of which 11,870 MWac projects are under implementation.
On a consolidated basis, AGEL reported a net profit of Rs 41.42 crore in Q3 December 2021 as compared to a net loss of Rs 128.77 crore in Q3 December 2020. Net sales rose 44.1% to Rs 722.58 crore in Q3 December 2020 over Q3 December 2019.
AGEL has one of the largest global renewable portfolios with 15 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
Shares of AGEL dropped 3.50% to Rs 1,068.90 on BSE. The scrip hit an intraday high of Rs 1,057 to Rs 1,108 so far.
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