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Electric utilities company Adani Green Energy announced Q1FY24 results:
- Operational capacity increased by 43% YoY to 8,316 MW with the addition of 1,750 MW solar-wind Hybrid, 212 MW solar, and 554 MW wind power plants over the last year
- Sale of energy increases by 70% YoY to 6,023 million units
- Solar portfolio CUF stands at 26.9%, wind portfolio CUF at 38.7% and solar-wind hybrid portfolio CUF at 47.2%
- Revenue from power supply up by 55% YoY to Rs 2,059 crore
- Industry-leading EBITDA margin of 92.5%, up by 70 bps YoY
- Cash profit increases by 55% YoY to Rs 1,051 crore
- Run-rate EBITDA stands at a strong Rs 7,645 crore with net debt to run-rate EBITDA at 5.3x as of June 2023
- Ranked 1st in Asia and among the top 10 RE companies globally by ISS-ESG in its ESG assessment
- AGEL’s governance score stands at 4.5 in FTSE’s latest ESG assessment, well above global Utilities and alternative energy sector averages
“Path towards a sustainable future lies in embracing cleaner and greener sources of energy. We are committed to producing low-cost green electrons through a continued focus on operational excellence and technology innovation combined with the use of Digital and Artificial Intelligence based solutions. Our team's unwavering dedication has been instrumental in achieving consistent strong financial and operational milestones." said Amit Singh, CEO, Adani Green Energy.
He added, “We aim to grow our renewable power capacity to 45 GW by 2030 through Solar, Wind, and Solar-Wind hybrid solutions as major contributors To enable integration of renewables in the grid, round-the-clock solutions with long-term clean storage structures such as pumped hydro will be a critical part of our solution mix, contributing to a greener future and underscore our dedication to combating climate change challenges.”
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