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Adani Green Energy Ltd reports robust growth in its 9M FY24 results

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Ahmedabad, 29 January 2024: Adani Green Energy Ltd (AGEL), India’s largest and fastest growing pure-play renewable energy company, today announced financial results for the quarter and nine months ending 31 December 2023. 

FINANCIAL PERFORMANCE – Q3 & 9M FY24:

(Rs. in crore)

Particulars Quarterly performance Nine month performance
Q3 FY23 Q3 FY24 % change 9M FY23 9M FY24 % change
             
Revenue from Power Supply 1,258 1,765 40% 3,690 5,794 57%
             
EBITDA from Power Supply 1 1,174 1,638 40% 3,570 5,412 52%
EBITDA from Power Supply (%) 92.1% 91.5%   91.8% 92.0%  
             
Cash Profit 2 546 862 58% 1,827 2,944 61%

Mr. Amit Singh, CEO, Adani Green Energy Ltd, said, “With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well-secured growth path to the targeted 45 GW capacity by 2030. We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localization, digitalization at scale, workforce expansion and competency building. We are working on the world’s largest renewable power plant at Khavda in Gujarat and endeavor to set new standards for mega scale development of renewable energy projects as the world embraces the target of tripling renewable power capacity by  2030.”                                                                                                                                                                                                             CAPACITY ADDITION & OPERATIONAL PERFORMANCE – Q3 & 9M FY24:

Particulars Quarterly performance Nine month performance
Q3 FY23 Q3 FY24 % change 9M FY23 9M FY24 % change
             
Operational Capacity 7,324 8,478 16% 7,324 8,478 16%
–          Solar 4,913 5,063 3% 4,913 5,063 3%
–          Wind 971 1,275 31% 971 1,275 31%
–          Solar-Wind Hybrid 1,440 2,140 49% 1,440 2,140 49%
Sale of Energy

(Million units) 3

3,621 4,596 27% 10,235 16,293 59%
–          Solar 2,507 2,457 -2% 7,585 7,927 5%
–          Wind 300 507 69% 1,392 2,503 80%
–          Solar-Wind Hybrid 814 1,632 100% 1,258 5,863 366%
             
Solar portfolio CUF (%) 23.3% 22.1%   24.0% 24.0%  
Wind portfolio CUF (%) 14.0% 18.0%   27.1% 32.2%  
Solar-Wind Hybrid (%) 32.9% 34.5%   34.0% 41.5%  

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