Adani Green Energy Targets 11 GW Capacity by FY24 with Rs 14,000 Crore Capex

8 Nov 2023 , 03:10 PM

Adani Green Energy Limited (AGEL) plans a capital expenditure (capex) of Rs 14,000 crore. AGEL aims to achieve an operational capacity of 11 GW in FY24, according to its CEO, Amit Singh.

The company currently operates a renewable energy (RE) portfolio of 8.4 GW, comprising solar, wind, and hybrid capacity. AGEL intends to add 2.8-3 GW of capacity in FY24, expanding its operational portfolio to 11 GW.

A significant portion of the capacity expansion will occur in Khavda, Gujarat, where over 5,000 workers have been deployed. AGEL’s long-term fixed tariff Power Purchase Agreements (PPAs) span 25 years, with an average portfolio tariff of Rs 3.02 per unit.

The company is working toward developing the world’s largest RE cluster in Khavda, Gujarat. AGEL’s customer base includes Solar Energy Corporation of India (SECI), NTPC, and various state DISCOMs.

AGEL’s renewable energy projects are located in Rajasthan, Gujarat, Andhra Pradesh, and Karnataka. The company’s long-term goal is to achieve 45 GW of renewable energy capacity by 2030, in line with India’s target of 500 GW of renewables capacity by 2030.

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