Adani Green Energy Reports 47% Increase In Cash Profit

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Adani Green Energy Reports 47% Increase In Cash Profit; Operational Capacity Increases By 83%

| Updated: February 2, 2022 20:52

Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, today announced the financial results for the quarter and nine months ended December 31, 2021. The company’s year-on-year cash profit rose 47 percent. The operational capacity of the company increased by 83 percent. 

Results posted by the company showed that sales of energy increased by 67 percent Year on Year to 6,456 mn units in nine months. The financial performance of the company points to the fact that robust growth in revenue from the power supply was backed by strong growth in capacities and improved solar and wind capacity utilization factors. 

Important to note here is that Adani Green Energy Ltd has signed the world’s largest green power purchase agreement(PPA) with Solar Energy Corporation of India(SECI) to supply 4,667 MW. The company has signed a power purchase agreement for close to 6000 MW out of 8000 MW awarded to it under Solar Energy Corporation of India’s manufacturing linked solar tender.  

Important Data: 

Adani Green Energy Ltd’s sale of energy increased by 67 percent year on year to 6456 units in the quarter and nine months ended December 31, 2021. Solar Capacity utilization of the company increased by 50 basis points year on year to 22.6 percent and wind capacity utilization factor improved by 470 basis points year on year to 33.2 percent. EBITDA from power supply went up 56 percent on-year yearly to Rs 2,474 crore with 160 basis points improvement in EBITDA margin to 92.4 percent in nine months Financial year 2022. 

Adani Green Energy Limited (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with an overall portfolio of 20.3 GW including operating, under-construction, awarded, and assets under acquisition catering to investment-grade counterparties.

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