Adani Green Energy Expands Portfolio with New Subsidiary: See for Monday

Adani Green Energy Limited (AGEL), a leading player in India’s renewable energy sector, has announced the incorporation of a new subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L). This strategic move underscores AGEL’s commitment to expanding its renewable energy footprint across the nation.

Key Details of the New Subsidiary:

• Name: Adani Green Energy Sixty Eight Limited (AGE68L)
• Authorized Share Capital: ₹10 lakh
• Paid-up Share Capital: ₹5 lakh
• Ownership: Wholly owned by Adani Green Energy Limited
• Objective: To undertake renewable energy generation and related activities, including the development, transformation, distribution, and transmission of power through sustainable sources such as wind and solar energy.

This development aligns with AGEL’s strategic vision to bolster India’s transition to clean energy. The company has been actively expanding its renewable energy portfolio, with a current operational capacity of over 10.9 GW, making it one of the largest renewable energy companies in India.

Economic Times

In recent developments, AGEL has also commissioned a 250 MW solar power project at Badi Sid, Jodhpur, Rajasthan, further increasing its operational renewable generation capacity.

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The incorporation of AGE68L is expected to enhance AGEL’s capabilities in executing large-scale renewable projects, contributing significantly to India’s renewable energy targets and reinforcing the Adani Group’s position as a key player in the global renewable energy landscape.

Adani Green Energy Limited (AGEL), a pioneer in India’s renewable energy sector, has achieved remarkable progress in expanding its capacity and contributing to the nation’s decarbonization goals. Within 12 months of breaking ground in 2023-24, AGEL operationalized its first 2 GW solar capacity and continues to make strides in its renewable energy portfolio.

Key Achievements in 2023-24

• Solar Capacity Milestone: AGEL successfully operationalized 2 GW of solar capacity within a year of initiating projects, showcasing the company’s efficiency and commitment.
• Wind Energy Progress: Over the past six months, the company added 250 MW of wind capacity, despite challenging monsoon conditions.
• On-the-Ground Advancements: Significant groundwork has been laid for additional capacity, setting the stage for robust growth in the second half of the fiscal year.

India’s Largest Renewable Energy Portfolio

• Operating Portfolio: AGEL now manages a renewable energy capacity of 11.2 GW, making it the largest in India. This expansive portfolio spans 12 states, highlighting the company’s nationwide impact.
• Future Targets: AGEL is ambitiously aiming to reach 50 GW of renewable capacity by 2030, aligning with India’s broader decarbonization objectives and global sustainability goals.

Strategic Vision and Decarbonization Goals

AGEL’s rapid growth underscores its role in advancing India’s energy transition. By focusing on large-scale solar and wind projects, the company is contributing significantly to reducing the country’s reliance on fossil fuels and achieving a sustainable energy future.

Adani Green Energy’s milestones in renewable energy operationalization reflect its unwavering commitment to innovation, sustainability, and efficiency. With its ambitious target of 50 GW by 2030, AGEL is poised to lead India’s clean energy revolution, paving the way for a greener and more sustainable future.