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Adani Green Energy Reports Strong Q1 FY25 Operational Performance

Adani Green Energy Limited (AGEL) has reported a strong operational performance for the first quarter of the fiscal year 2024-25 (Q1 FY25), demonstrating significant progress in its renewable energy portfolio expansion and energy sales.

Key Highlights:

• Operational Capacity: Increased by 31% year-over-year (YoY) to 10,934 MW, driven by the addition of 2,418 MW of solar power and 200 MW of wind power plants.
• Energy Sales: Rose by 22% YoY to 7,356 million units, supported by robust capacity addition and a growing share of merchant power.
• Consistent Generation: Exceeded PPA commitments, with solar portfolio Capacity Utilization Factor (CUF) at 25.4% and wind portfolio CUF at 36.2%.
• Hybrid Portfolio CUF: Maintained high performance at 46.0%, reflecting the efficiency of AGEL's integrated renewable energy solutions.
• Financial Strength: Upgraded credit rating by India Ratings and Research (Ind-Ra) to 'IND AA-' with a 'Stable' outlook, reflecting strong operational performance and prudent capital management.
• Secure Funding: Secured USD 400 million in debt funding from international banks for solar projects in Rajasthan and Gujarat.

Operational Details:

AGEL's capacity expansion in Q1 FY25 was driven by greenfield additions, including 2,000 MW in Khavda and 418 MW in Rajasthan for solar power, and 200 MW in Gujarat for wind power. This aggressive expansion aligns with the company's ambitious target of reaching 50 GW capacity by 2030.

The company has consistently delivered generation exceeding its Power Purchase Agreement (PPA) commitments, with a steady growth in generation over the past four years. This, along with increasing merchant power sales, highlights AGEL's ability to optimize its energy portfolio and maximize value creation.

Future Outlook:

AGEL's strong Q1 FY25 performance reinforces its position as a leader in India's renewable energy sector. The company's focus on expanding capacity, optimizing energy generation, and securing diverse funding sources sets the stage for continued growth and success in the renewable energy transition.