Adani Green Energy plans to increase RE portfolio to 11GW in FY24, states CEO Amit Singh

8 Nov 2023 , 02:27 PM

Amit Singh, CEO of Adani Green Energy Limited (AGEL), stated that the company has planned a capex of Rs 14,000 crore. It also aims to achieve an operating capacity of 11 GW by FY24.

According to an official in an investor presentation, the company has an operating renewable energy (RE) portfolio of 8.4 GW across solar, wind, and hybrid capacity.

A significant portion of the capacity increase will occur in Khavda, Gujarat, where the corporation has deployed a workforce of over 5,000 workers.

From FY25 onwards, the business intends to add 5 GW to its RE portfolio per year.

AGEL’s 97% capacity is covered by long-term fixed price Power Purchase Agreements (PPAs) with a 25-year period and an average portfolio pricing of Rs 3.02 per unit. Solar Energy Corporation of India (SECI), NTPC, and other state DISCOMs are among its customers.

AGEL plans projects in Rajasthan, Gujarat, Andhra Pradesh, and Karnataka.

By 2030, the company plans to operate 45 GW of renewable energy capacity. India’s goal is to construct 500 GW of renewable energy capacity by 2030.

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