Renewable energy company Adani Green Energy (AGEL) generated a revenue of ₹23.09 billion (~$274.63 million) from power supply in the second quarter (Q2) of the financial year (FY) 2024-25, a 16% year-over-year (YoY) increase from ₹19.84 billion (~$235.97 million).

The revenue growth was accompanied by a 17% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached ₹21.43 billion (~$254.88 million) at an EBITDA margin of 91.7%.

The company also reported a 21% jump in cash profit, which climbed to ₹12.49 billion (~$148.55 million).

The improvement in revenue, EBITDA, and cash profit was primarily driven by robust greenfield capacity addition of 2,868 MW and consistent project performance.

AGEL’s solar portfolio achieved a Capacity Utilization Factor (CUF) of 23.9%, supported by 99.4% project availability, while its wind portfolio recorded a CUF of 35.7%, backed by 95% availability. The hybrid portfolio achieved a CUF of 42.9% and project availability of 99.6%.

First Half FY 2025

Adani Green generated revenue of ₹48.36 billion (~$575.19 million) in the first half (1H) of FY 2025, a 20% YoY increase from ₹40.29 billion (~$479.21 million).

The revenue growth was accompanied by a 20% increase in EBITDA, which reached ₹45.18 billion (~ $537.37 million) at an EBITDA margin of 92.2%.

The company also reported a 27% jump in cash profit, which climbed to ₹26.4 billion (~$314 million).

Operational capacity also expanded significantly, increasing by 34% YoY to 11,184 MW. The growth was driven by greenfield additions, including 2,000 MW of solar and 250 MW of wind capacity in Khavda, 418 MW of solar in Rajasthan, and 200 MW of wind in Gujarat.

The company’s energy sales increased by 20% YoY, reflecting its robust capacity growth and operational performance.

Recently, Adani Green Energy redeemed $750 million 4.375% Holdco Notes through a fully funded redemption reserve account maintained since January 2024.

The company reported that its revenue surged by 24% year-over-year to ₹25.28 billion (~$301 million) in the first quarter of financial year 2025, driven primarily by capacity additions.

Adani Green also announced a joint venture with TotalEnergies to manage a portfolio of 1,150 MW solar projects at the Khavda renewable energy project in Gujarat. While AGEL plans to contribute its current assets to the projects, TotalEnergies will invest $444 million to speed up its development.