Adani Green Energy Revenue up by 66% YoY to Rs. 4,029 Cr

Ahmedabad: Adani Green Energy Ltd (AGEL), India’s largest and fastest growing pure-play renewable energy company, today announced financial results for the quarter and half year ending 30 September 2023.

The robust growth in revenue, EBITDA and cash profit is primarily driven by capacity addition of 1,592 MW over the last one year and improved CUF. The consistent industry-leading EBITDA margin is driven by AGEL’s best-in-class O&M practices enabling it to achieve higher electricity generation at lower O&M cost.

The Run-rate EBITDA stands at a strong Rs. 7,645 Cr with Net Debt to Run-rate EBITDA at 4.99x as of September 2023 as compared to 5.9x last year. The ratio continues to be well within the stipulated covenant of 7.5x for holdco bond.

“The performance improvement across the board is the result of our team’s relentless efforts. In pursuit of our next milestone to create the largest RE cluster in the world in Khavda, Gujarat, we have already deployed workforce of 5,000+. At Khavda, we will be installing the most advanced TOPCon solar modules as well as India’s largest and one of the most efficient 5.2 MW wind turbine. These efforts will drive us towards achieving the lowest levelized cost of energy.” said Mr Amit Singh, CEO, Adani Green Energy Ltd.

“Looking ahead, we aim to augment automation in our operations and make every decision even more intelligence driven through extensive digitalization and AI/ ML integration. Our commitment to sustainability and the highest level of governance will remain the foundation of our future growth.”