AGEL Becomes India’s largest green energy company

Ahmedabad: Adani Green Energy Limited (AGEL) under the Adani portfolio has become India’s largest renewable energy portfolio company.

Recently AGEL has achieved 8.4 gigawatt (GW) installed capacity. The company also operates India’s largest solar capacity (5GW). Not only this, it is the leader in the wind-solar hybrid category with the world’s largest operating hybrid capacity of 2,140 MW.

Adani Green Energy Limited’s (AGEL), which has the country’s largest solar portfolio, has crossed the 5GW mark in its solar capacity operating portfolio. This ambitious target has been achieved with the commissioning of a 150 MW solar plant in Bikaner, Rajasthan. AGEL’s total renewable operational capacity has increased to 8,404 MW across solar, wind and hybrid.

AGEL’s contribution to renewable energy expansion and sustainable power generation in India reflects its commitment to green energy. With this achievement the company not only strengthens its position as a key player in the nation’s clean energy goals but also in the renewable energy sector.

A company spokesperson said, “AGEL’s management guidance plans to commission between 2.8 GW to 3 GW in the current financial year (FY24), with capex of approximately Rs 14,000 crore in the current financial year.

AGEL earlier this year announced an ambitious target of achieving 45 GW of renewable energy capacity by 2030. About 97 percent of AGEL’s capacity is under long-term fixed tariff Power Purchase Agreements (PPAs) with a tenure of 25 years, according to a company spokesperson. AGEL’s next projects are planned to be set up in the states of Rajasthan, Gujarat, Andhra Pradesh and Karnataka.

According to Mercom’s India Solar Market Leaderboard 1H 2023, Adani emerged as the leading top-utility scale solar project developer in the first half (1H) of 2023. According to the Mercom report, Adani holds a market share of 21.3%, which is more than the combined market share of the other 4 leaders on the leaderboard.

AGEL’s major customers include Solar Energy Corporation of India (SECI), National Thermal Power Corporation (NTPC) and various state discoms.