Adani Green Energy Limited (AGEL) has reported a net profit of Rs 5.15 billion for the quarter ending September 2024. This is an increase of approximately 39 per cent from Rs 3.71 billion of net profit earned in in the same quarter last year. The company’s total income increased by 30.39 per cent to Rs 33.76 billion during the quarter ending September 2024, up from Rs 25.89 billion recorded in the corresponding period of the previous year.
The company’s operational capacity grew by 34 per cent year-on-year (YoY) to 11.2 GW. Their cash profit has risen to Rs 26.40 billion indicating an increase of 27 per cent from Q2 in FY24. Their revenue from power supply rose to Rs 48.36 billion, a 20 per cent YoY increase from Q2 FY24 when it was Rs 40.29 billion. The company saw a significant increase in energy sales by 20 per cent YoY to 14,128 million units.
In September 2024, TotalEnergies and AGEL agreed to form a new joint venture to develop a solar portfolio in Khavda, Gujarat, with a capacity of 1,150 MW (1,575 MWp). In March 2024, AGEL had successfully initiated a total solar energy capacity of 1,000 MW at the Khavda Energy Park in Gujarat. In February 2024, they commissioned 551 MW of solar capacity delivering electricity to the national grid.
