The business managed by Gautam Adani has launched a 450 MW hybrid plant. At 1,440 MW, Adani Green Energy now boasts the world's biggest operating hybrid power production capacity.
By commissioning its third wind-solar hybrid power plant with combined operating generating capacity of 450 MW at Jaisalmer in Rajasthan, Adani Green Energy Ltd (AGEL), the renewables subsidiary of the Adani Group, has become the biggest wind-solar hybrid power farm developer in the world. The power purchase agreements (PPA) between the plant and SECI are set at 2.67 rupees per kilowatt hour for the next 25 years.
"The most cutting-edge technology was used in the construction of this brand-new hybrid power plant, which is comprised of solar plants with 420 MW and wind plants with 105 MW. Adani Green Energy currently has the greatest operating hybrid power generating capacity of 1,440 megawatts thanks to the construction of this hybrid plant "according to the firm.
Earlier in the month of May 2022, an Adani group business had successfully put India's first hybrid power plant, which had 390 MW of capacity, into service. After this, in September of 2022, the world's biggest co-located hybrid power plant, with a capacity of 600 megawatts, was officially put into operation. Both of these hybrid energy producing assets may be found in Jaisalmer, which is situated in the Indian state of Rajasthan.
AGEL's total operating generating capacity has increased to 7.17 gigawatts after the plant with a capacity of 450 megawatts (MW) was successfully commissioned. The Adani Solar Energy Jaisalmer One Private Ltd. facility houses the recently commissioned 450 MW hybrid power plant that is owned and operated by AGEL.
Adani Green Energy has one of the biggest renewable portfolios in the world, with a total portfolio of 20,4 gigawatts (GW). This portfolio includes assets that are running, under development, and awarded, and it serves investment-grade counterparties. The Solar Energy Corporation of India (SECI), the National Thermal Power Corporation (NTPC), and several state distribution companies are among the most important consumers for this business.
Adani Green Energy, via its subsidiary Adani Solar Energy AP Six Private Ltd, successfully obtained JPY (Japanese Yen)-denominated facility on December 1, 2022, for the purpose of refinancing the company's current debt. The facility consists of JPY 27,954 million ($200 million), an amortising project loan facility, and an assessment of the 16-year debt structure. The door-to-door tenor of the facility is 10 years, and the average tenor is more than 8 years. According to the business, AGEL's policy of obtaining long-term financing and developing the debt structure in compliance with the underlying asset life for its operating assets is adhered to by the refinancing arrangement.
Adani Green Energy Ltd (AGEL) reported a 49% increase in its consolidated net profit to 149 crore for the second quarter of the current fiscal year (Q2 FY23), as opposed to 100 crore for the same time in the previous fiscal year. This development was driven by greater sales. Its overall revenue increased to 1,686 crore, up from 1,411 crore over the same time period the previous year.
Shares of Adani Green, which are headed by billionaire Gautam Adani and are traded on the NSE, are now trading 1.11% down at 2,038.45 as compared to their previous session's closing price of 2,061.25, which is in line with market trends. The price of the stock has gone up by 0.81% in the last week and 13.20% in the last six months. The stock of the Adani group has seen a gain of 51.33% so far this year, and its market capitalization now sits at 3,22,984.22 crore rupees.
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