Adani Green's Renewable Capacity Up 35% YoY to 7,324 MW in 9M FY23

Adani Green’s Renewable Capacity Up 35% YoY to 7,324 MW in 9M FY23

Adani Green Energy's (AGEL) total operational capacity has increased 35% year-over-year (YoY) to 7,324 MW in the first nine months (9M) of the current financial year. The company's operational portfolio ...
/ / Other, Renewable Energy
Adani Renewable Energy Two, a wholly-owned subsidiary of Adani Green Energy (AGEL), said it has signed a binding agreement to buy 50% equity interest in Essel Saurya Urja Company of Rajasthan (ESUCRL). AGEL said that ESUCRL owns and operates a 750 MW solar park in Rajasthan, and the acquisition will expand its footprint in the state. ESUCRL was incorporated in May 2015 and the company’s turnover for the financial year 2021-22 stood at ₹98.8 million (~1.2 million). It has an authorized capital of ₹500 million (~$6.1 million). Further, AGEL said it already owns and operates Adani Renewable Energy Park Rajasthan set up in a joint venture with the state government. “The acquisition is expected to be value accretive to our shareholders. The estimated cost to be borne by AGEL’s subsidiary for the acquisition is ₹150 million (~$1.8 million),” the company said in a BSE filing. The state government will hold the remaining 50% of the equity shares. The transaction is likely to be completed by February 28, 2023. In December 2022, AGEL said that its hybrid power generation capacity reached 1,440 MW with the company commissioning its third wind-solar hybrid power plant of 450 MW in Jaisalmer, Rajasthan. Adani Green inked power purchase agreements with the Solar Energy Corporation of India at a tariff of ₹2.67 (~$0.032)/kWh for a tenure of 25 years. Also in December, Adani Enterprises emerged to be the only company to commence the construction of a polysilicon and monosilane production unit to be set up in Gujarat’s Mundra. Engineers India, the state-owned construction, and engineering firm secured the order to provide owner’s engineer services for 30,000 MTPA polysilicon and 500 MTPA monosilane project from Mundra Solar Technology which is Adani’s group company. According to Mercom’s India Solar Market Leaderboard 1H 2022, Adani Solar was one of the top five leading module suppliers to the Indian solar market during the first half of 2022.

Adani Green to Acquire 50% Stake in Rajasthan-based Solar Park Developer

Adani Renewable Energy Two, a wholly-owned subsidiary of Adani Green Energy (AGEL), said it has signed a binding agreement to buy 50% equity interest in Essel Saurya Urja Company of ...
/ / Markets & Policy, Solar
Renewable Energy Trading at IEX in November Dips 12%, Weighted Average Price Rebounds

Adani Green Raises a Yen-Denominated $205 Million Facility to Refinance Debt

Adani Green Energy (AGEL), through its subsidiary Adani Solar Energy AP Six, has raised a project loan facility of ¥27.95 billion (~$205.31 million) to help refinance its debt. The facility ...
Daily News Wrap-Up: Sri Lanka Approves Adani Green Energy’s Wind Projects

Daily News Wrap-Up: Sri Lanka Approves Adani Green Energy’s Wind Projects

Here are some noteworthy cleantech announcements of the day from around the world: Sri Lanka's Energy Minister Kanchana Wijesekara announced that Adani Green Energy was issued provisional approvals for two ...
/ / Other, Renewable Energy
Daily News Wrap-Up: Adani & ReNew to Invest in Renewable Projects in Andhra and Karnataka

Daily News Wrap-Up: Adani & ReNew to Invest in Renewable Projects in Andhra and Karnataka

Here are some noteworthy cleantech announcements of the day from around the world: Adani Green Energy (AGEL) signed a memorandum of understanding with the Andhra Pradesh government to develop green ...
Adani Green To Receive $500 Million of IHC’s $2 Billion Investment in Adani Group

Adani Green to Receive $500 Million of IHC’s $2 Billion Investment in Adani Group

Abu Dhabi-based public joint-stock company International Holding Company PJSC (IHC) announced an investment of $2 billion in three of Adani Group's companies. Adani Green Energy will receive $500 million out ...
/ / Finance and M&A, Other
Adani Green Registers 47% YoY Increase in Cash Profits in 9M 2022

Adani Green Registers 47% YoY Increase in Cash Profits in 9M 2022

Renewable energy company Adani Green Energy (AGEL) has generated ₹26.55 billion (~$355.04 million) as revenue from power supply in the first nine months (9M) of the financial year (FY) 2022, ...
/ / Markets & Policy, Solar
Advanced Technology Adoption Vital to Cut O&M Cost, Increase Solar Project Efficiency

Advanced Technology Adoption Vital to Cut O&M Cost, Increase Solar Project Efficiency

Mercom India hosted a webinar on December 8, 2021, to understand the critical role operations and maintenance (O&M) companies play in optimizing the performance of solar assets while mitigating challenges ...
/ / Markets & Policy, Solar
TotalEnergies' Consolidated Net Income Up 127% YoY With $2.29 billion in Q2 2021

TotalEnergies’ Consolidated Net Income Up 127% YoY With $2.29 Billion in Q2 2021

TotalEnergies, a French oil and gas major, announced the results for the second quarter (Q2) of 2021 and the first half (1 H) of 2021. The company's consolidated net income ...
/ / Finance and M&A, Other
Daily News Wrap-up_ NTPC Commissions 70 MW Capacity of a Solar Project

Daily News Wrap-up: NTPC Commissions 70 MW Capacity of a Solar Project

Here are some noteworthy cleantech announcements of the day from around the world: NTPC has announced that 70 MW of 85 MW Bilhaur Solar PV Project at Bilhaur, Uttar Pradesh, ...
/ / Other, Renewable Energy
Torrent Power and Adani Green Winners in Gujarat’ 300 MW Solar Auction

Torrent Power and Adani Green Winners in Gujarat’s 300 MW Solar Auction

Torrent Power Generation and Adani Green Energy are winners in Torrent Power Limited’s auction to develop 300 MW of grid-connected solar projects in Gujarat. Adani Green and Torrent Power quoted ...
/ / Solar, Tenders & Auctions
Adani Green Completes Acquisition of 205 MW of Operational Solar Projects from Essel

Adani Green Completes Acquisition of 205 MW of Operational Solar Projects from Essel

Adani Green Energy Limited (AGEL) said it has completed the acquisition of 205 MW of operational solar assets in Punjab, Karnataka, and Uttar Pradesh from Essel Green Energy Private Limited ...
Despite Relief Measures, DISCOM Dues to Renewable Generators Rose to ₹103 Billion in July

Despite Relief Measures, DISCOM Dues to Renewable Generators Rose to ₹103 Billion in July

The distribution companies (DISCOMs) owed renewable generators nearly ₹103.11 billion (~$1.4 billion) in overdue payment (excluding dues under dispute) spread across 579 invoices at the end of July 2020, according ...
/ / Grid, Market & Policy
Regulator Dismisses Solar Developer’s Plea for Respite Under Force Majeure

Regulator Dismisses Solar Developer’s Plea for Respite Under Force Majeure

The Karnataka Electricity Regulatory Commission (KERC) dismissed Adani Green Energy (UP) Limited’s plea for relief under the force majeure clause in its power purchase agreement (PPA) with the Gulbarga Electricity ...
/ / Markets & Policy, Solar
Karnataka Commission Reduces Tariff for a 20 MW Solar Project for Commissioning Delay

Karnataka Regulator Reduces Tariff for a 20 MW Solar Project for Commissioning Delay

The Karnataka Electricity Regulatory Commission (KERC) dismissed Adani Green Energy (UP) Limited’s (Adani Green) plea for relief on the grounds of the ‘force majeure’ clause for its 20 MW solar ...
Adani Green Gets Stakeholders’ Approval to Raise ₹25 billion

Adani Green Gets Stakeholders’ Approval to Raise ₹25 Billion

Adani Green Energy Limited (AGEL) announced that it had received approval from its shareholders to raise ₹25 billion (~$331 million). The approval was granted during the company’s fifth annual general ...
Adani Green to Receive Refund of ₹1.2 Million for a 20 MW Solar Project in Mysuru

Adani Green to Receive Refund of ₹1.2 Million for a 20 MW Solar Project in Mysuru

The Karnataka Electricity Regulatory Commission (KERC) has ordered that Adani Green Energy Limited (AGEL) should get a refund of ₹1.2 million (~$15,754) from the Gulbarga Electricity Supply Company Limited (GESCOM) ...
/ / Solar, Utility Scale
Adani Asked to Compensate for Delay in Land Possession for a 20 MW Solar Project

Adani Asked to Compensate for Delay in Land Possession for a 20 MW Solar Project

The Karnataka Electricity Regulatory Commission (KERC) has dismissed Adani Green Energy Limited’s (AGEL) request to approve the date on which the supplemental power purchase agreement (PPA) was signed to be ...
/ / Markets & Policy, Solar
Tata Power to Buy 50 MW of Wind Power from SECI at ₹2.52_kWh

Tata Power to Buy 50 MW of Wind Power from SECI at ₹2.52/kWh

The Central Electricity Regulatory Commission (CERC) has approved a tariff of ₹2.52 (~$0.034)/kWh as requested by the Tata Power Delhi Distribution (TPDDL) for 50 MW of wind power from the ...
/ / Wind
Important Headlines from India’s Renewable Sector in February 2020

Important Headlines from India’s Renewable Sector in February 2020

February was a busy month for the domestic renewable sector, with many important events and announcements making the headlines. There were several important announcements in the month, including the Union ...
Total to Acquire 50% Stake in Adani Green’s Solar Portfolio for $510 Million

Total to Acquire 50% Stake in Adani Green’s Solar Portfolio for $510 Million

Total, a French oil and gas major, has entered into an agreement with Adani Green Energy Limited  (AGEL) to acquire a 50% stake in a joint venture company for $510 ...
/ / Finance and M&A, Solar
SECI’s Manufacturing-Linked Solar Tender Receives Good Response, Oversubscribed by 1 GW

SECI’s Manufacturing-Linked Solar Tender Receives Good Response, Oversubscribed by 1 GW

The Solar Energy Corporation of India (SECI) has received a good response for its 7 GW solar tender that has been linked with a manufacturing component. After a slew of ...
Adani Green Raises $362.5 Million Through Issuance of Green Bonds

Adani Green Raises $362.5 Million Through Issuance of Green Bonds

Adani Green Energy Limited (AGEL) has announced that its subsidiaries, Adani Renewable Energy Limited, Wardha Solar (Maharashtra), and Kodangal Solar Parks Private Limited, have approved the issuance of dollar-denominated 20-year ...
/ / Finance and M&A, Solar
Adani Green Energy to Acquire 205 MW of Solar Assets from Essel Group

Adani Green Energy to Acquire 205 MW of Solar Assets from Essel Group

Adani Green Energy, the renewable energy arm of Adani Group, has announced that it has signed an agreement to acquire 205 MW of solar assets from Essel Group. The projects which ...
/ / Finance and M&A, Solar
Bombay Stock Exchange Launches Exclusive Trading Platform for Green Bonds

Bombay Stock Exchange Launches Exclusive Trading Platform for Green Bonds

India now has its own green bond trading platform. The Bombay Stock Exchange (BSE)’s international arm, India International Exchange (India INX), recently announced its exclusive green listing and trading platform ...