Adani Green Energy Ltd (AGEL), the renewables arm of the Adani Group, has commissioned its third wind-solar hybrid power plant of combined operational generation capacity worth 450 MW at Jaisalmer in Rajasthan, thus becoming the world’s largest wind-solar hybrid power farm developer. The plant has power purchase agreements (PPA) with SECI at ₹2.67/kwh for 25 years.
"This new hybrid power plant, consisting of 420 MW solar and 105 MW wind plants, has been implemented with cutting-edge technology. With this hybrid plant, Adani Green Energy now has the largest operational hybrid power generation capacity of 1,440 MW," the company said.
Earlier in May 2022, the Adani group company had operationalised India’s first hybrid power plant of 390 MW. This was followed by the commissioning of the world’s largest co-located hybrid power plant of 600 MW in September 2022. Both these hybrid energy generation assets are located in Jaisalmer, Rajasthan.
With the successful commissioning of this 450 MW plant, AGEL now has a total operational generation capacity of 7.17 GW. The newly commissioned 450 MW hybrid power plant is housed in AGEL’s subsidiary, Adani Solar Energy Jaisalmer One Private Ltd.
Adani Green Energy boasts one of the largest global renewable portfolios, with an overall portfolio of 20.4 GW, including operating, under-construction and awarded assets catering to investment-grade counterparties. The company's key customers include Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC) and various state discoms.
On December 1, 2022, Adani Green Energy via its subsidiary Adani Solar Energy AP Six Private Ltd raised JPY (Japanese Yen)-denominated facility to refinance its existing indebtedness. The facility comprises JPY 27,954 million ($200 million), amortising project loan facility, and assessing the 16 years debt structure with a door-to-door tenor of 10 years and an average tenor of more than 8 years. The company says the refinancing facility is consistent with AGEL’s strategy of securing long-term financing establishing the debt structure in conformity with the underlying asset life for its operational assets.
For the July-September quarter of the current fiscal (Q2 FY23), Adani Green Energy Ltd (AGEL) posted 49% growth in its consolidated net profit at ₹149 crore as compared to ₹100 crore in the year-ago period, driven by higher revenues. Its total income grew to ₹1,686 crore, from ₹1,411 crore in the same period a year ago.
In line with market trends, the shares of billionaire Gautam Adani-led Adani Green are trading 1.11% lower at ₹2,038.45 as compared to the last session close of ₹2,061.25 on the NSE today. The stock has surged 0.81% in the past week and 13.20% in the past six months. The Adani group stock is up 51.33% in the year-to-date period, while its m-cap stands at ₹3,22,984.22 crore.