New Solar Project Commissioned in Khavda

Adani Green Energy Ltd (AGEL), one of India’s leading renewable energy companies, has announced the commissioning of a 37.5 MW solar power project in Khavda, Gujarat. The project was developed by AGEL’s wholly-owned subsidiary, Adani Renewable Energy Fifty Seven Ltd. This latest addition contributes to the company’s growing renewable energy portfolio, further cementing its role in India’s transition to sustainable power generation.

With this new solar installation, AGEL’s total renewable energy capacity has now reached an impressive 13,737.8 MW. The company confirmed the development in a regulatory filing on March 29, emphasizing its commitment to expanding India’s clean energy infrastructure. The Khavda region has been a focal point for large-scale renewable energy projects, and Adani Green Energy’s continued investments in the area highlight its long-term vision of establishing a world-class renewable energy hub in Gujarat.

The project aligns with AGEL’s broader objective of meeting India’s renewable energy targets while reducing dependence on fossil fuels. By harnessing solar power at scale, the company aims to support India’s ambitious goal of achieving 500 GW of non-fossil fuel capacity by 2030. The increasing demand for green energy solutions is driving aggressive expansion in the sector, and AGEL remains at the forefront of this transformation.

Highlights:

AGEL’s subsidiary commissioned a 37.5 MW solar project in Khavda, Gujarat.
The company’s total renewable energy capacity has reached 13,737.8 MW.
AGEL is focused on large-scale solar energy development to support India’s green energy transition.

Major Solar Project Win in Rajasthan Strengthens AGEL’s Market Position

The commissioning of the Khavda solar project comes just a day after AGEL secured a significant 400 MW solar power project in Rajasthan. This project, awarded to AGEL’s subsidiary, Adani Renewable Energy Holding Twelve Ltd, by Uttar Pradesh Power Corporation Ltd (UPPCL), is part of a long-term power supply agreement with the state. Under the terms of the deal, AGEL will supply electricity at a tariff of ₹2.57 per kilowatt-hour (kWh) for a period of 25 years.

The Rajasthan project marks another major step forward for AGEL as it continues to scale its renewable energy footprint across India. The strategic importance of such long-term agreements lies in ensuring stable revenue streams while contributing to state-level renewable energy commitments. The new project is expected to significantly enhance AGEL’s overall production capacity and reinforce its leadership in India’s renewable energy market.

With state governments and utilities increasingly opting for clean energy solutions, AGEL’s ability to secure large-scale projects reflects its strong market positioning and technical capabilities. As solar power adoption accelerates across India, companies with established infrastructure and proven execution capabilities will gain a competitive edge.

Highlights:

AGEL secured a 400 MW solar project in Rajasthan through a power purchase agreement with UPPCL.
The 25-year contract offers a competitive tariff of ₹2.57 per kWh.
This project strengthens AGEL’s role in India’s large-scale renewable energy sector.

Financial Performance: Strong Growth in Profit and Revenue

AGEL’s aggressive expansion strategy has been reflected in its impressive financial performance. The company reported an 85 percent surge in consolidated net profit for the December quarter, reaching ₹474 crore compared to ₹256 crore in the same period the previous year. The sharp increase in profitability was primarily driven by higher revenues from power sales, which climbed to ₹1,993 crore from ₹1,765 crore year-on-year.

The company’s operational capacity also saw significant growth, expanding by 37 percent year-on-year to 11,609 MW. The increase was driven by the addition of 3,131 MW of new renewable energy projects, underscoring AGEL’s focus on scaling up its clean energy portfolio. According to industry data, AGEL accounted for 15 percent of India’s utility-scale solar installations and 12 percent of wind capacity additions in 2024, further solidifying its leadership in the renewable energy sector.

The company’s ability to achieve high growth in both revenue and installed capacity highlights the effectiveness of its business model, which emphasizes large-scale renewable energy deployment and strategic project acquisitions. With a strong pipeline of new projects and increasing demand for green power, AGEL remains well-positioned for sustained financial growth in the coming years.

Highlights:

AGEL’s net profit for the December quarter rose 85 percent to ₹474 crore.
Revenue from power sales increased to ₹1,993 crore from ₹1,765 crore year-on-year.
The company’s operational capacity grew 37 percent to 11,609 MW.

Stock Market Trends: Volatility and Long-Term Growth Potential

Despite its strong financial performance and continued expansion, AGEL’s stock has experienced considerable volatility in recent months. Over the past six months, the company’s shares have declined more than 50 percent, reflecting broader market corrections and sector-specific challenges. However, in the past month alone, AGEL stock has rebounded, gaining 22.4 percent as investor sentiment improved following recent project wins and strong earnings reports.

In the most recent trading session, AGEL shares closed 1.24 percent lower at ₹948. While short-term fluctuations may persist, market analysts believe that AGEL’s long-term growth prospects remain strong. The company’s ability to secure large-scale renewable projects, coupled with its expanding operational capacity and strong financial performance, positions it well for future gains.

India’s renewable energy sector is expected to witness exponential growth in the coming years, with government initiatives and corporate investments driving demand for clean power solutions. As one of the country’s largest renewable energy companies, AGEL is expected to play a crucial role in shaping the future of sustainable energy in India.

Highlights:

AGEL stock has declined over 50 percent in the past six months.
Shares have rebounded 22.4 percent in the last month following strong earnings and project wins.
The company’s long-term growth potential remains strong despite short-term volatility.