New Delhi, (Asian independent) Adani Green Energy Ltd. (AGEL), a part of the Adani Group, today announced the financial results for the quarter and half year ended September 30, 2021.
The robust growth in revenue from power supply is backed by robust growth in capacities and improved Solar and Wind CUF.
Continued growth in EBITDA from Power Supply and Cash Profit is supported by increase in revenues and cost efficiencies brought in through analytics driven O&M.
“It is gratifying to see that the focus on climate change has continued to accelerate at a pace that has taken everybody by surprise,” said Mr. Gautam Adani, Chairman of the Adani Group. “I believe this is a good indication of the progress the world can make when it combines forces to solve a global problem. Our journey towards becoming the world’s largest renewables player and further increasing the gap as the world’s largest solar player is manifested in the very significant investments that we continue to make in this business.”
AGEL’s overall renewable portfolio increases to 20,284 MW on account of completion of acquisition of SB Energy’s India Renewable portfolio of 4,954 MW, which includes 1,700 MW operational assets and award of 450 MW Wind project from SECI in Oct 2021.
The company signed first set of PPAs for 867 MW with SECI in Sep/ Oct 2021 under Letter of Award received for manufacturing linked solar projects of 8 GW.
Sale of Energy increased by 54 per cent to 3,954 mn units in H1 FY22. Solar CUF improves by 50 bps YoY to 23.2 per cent and Wind CUF improves by 710 bps YoY to 40.7 per cent in H1 FY22.
EBITDA from Power Supply up by 50 per cent YoY to Rs. 1,577 crore with 150 bps improvement in EBITDA margin to 93.1 per cent in H1 FY22.
“The solid solar and wind portfolio performance, led by a considerable improvement in CUF, is a testament that we are on the right track in terms of incorporating the finest O&M practices and adopting the latest technology” said Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd. He further said “Our teams are working relentlessly towards the target of 25 GW operational capacity by 2025 and the recent addition of SB Energy’s 5 GW portfolio has helped us move closer to that ambition. We have taken a number of strides ahead in terms of our commitment to ESG and we will continue to work in this direction.”
