Adani Green Energy, the renewable energy business of Adani Group, announced its financial results for the quarter ended June 30.
Adani Green Energy said its operational capacity increased by 65 percent to 5,800 MW. It commissioned India’s first solar-wind hybrid project of 390MW at Jaisalmer in Rajasthan.
The sale of energy increased by 73 percent to 3,550 million units. Adani Green Energy received ESG score of 66/100, the highest in Indian power sector, in CRISIL Sustainability Yearbook 2022.
Its solar portfolio CUF improved by 150 bps to 26.5 percent. Wind portfolio CUF improved by 850 bps to 47 percent, the highest ever reported wind CUF by AGEL.
Adani Green Energy said revenue from power supply increased by 57 percent to Rs 1,328 crore. EBITDA from power supply increased by 60 percent to Rs 1,265 crore with EBITDA margin of 92 percent.
Adani Green Energy received investment of $500 mn from Abu Dhabi based International Holding Company (IHC) as primary capital in AGEL. This helped deleverage the balance sheet and strengthen the credit rating profile, thereby helping reduce the cost of capital and support future growth.
“We will deploy the latest technologies to enable higher and cost-efficient RE power generation with flexible integration with the grid,” said Vneet S Jaain, MD and CEO of Adani Green Energy.