Adani New Industries, a subsidiary of Adani Enterprises, has incorporated a wholly owned subsidiary for solar manufacturing, Adani New Industries One (ANIOL), investing ₹100,000 (~$1,167) for 10,000 equity shares.

In a BSE filing, the company stated that the subsidiary will trade and supply all types of components, equipment, and materials for solar and wind energy manufacturing, including solar panels, inverters, wind turbines, blades, and related equipment. It will also provide a range of services.

Adani New Industries manufactures solar modules and assembles wind turbines. In 2024, Adani Enterprises completed a qualified institutional placement  of equity shares, each with a face value of ₹1 (~$0.012), raising around ₹42 billion (~$500 million).  A total of 14,179,608 equity shares were issued at a price of ₹2,962 (~$35) per share.

At a renewable energy buyer-seller meet hosted by Mercom India in Bengaluru in February, Prashanth Byndoor, Regional Head, South India, Sales and Marketing, Adani Solar, presented an overview of his company’s solar manufacturing from silicon to module with 10 GW backward integration by 2026. He also spoke about Adani Solar’s glass, EVA, and backsheet manufacturing.

Adani’s transmission and distribution company, Adani Energy Solutions, recently won a power project from PFC Consulting to supply 3 GW of renewable energy, aiming to produce green hydrogen and green ammonia in Mundra, Gujarat.

Earlier this month, Adani Green Energy (AGEL) completed a long-term refinancing of $1.06 billion (~₹92.56 billion) to develop wind-solar projects in Rajasthan. This company’s maiden construction facility features a 19-year tenure, with a fully amortized debt structure aligned with the cash flow lifecycle.

AGEL’s operational capacity has risen 37% to 11,609 MW with a greenfield addition of 3,131 MW. The capacity additions included 2,113 MW of solar and 312 MW of wind capacity in Khavda, 580 MW of solar capacity in Rajasthan, and 126 MW of wind capacity in Gujarat.