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Adani Green Energy Becomes India's Largest Green Energy Company with 8.4 GW Capacity

The company recently commissioned a 0.15 GW solar power park in Rajasthan, which propelled its solar capacity to over 5 GW, contributing to the 8.4 GW overall capacity.

November 07, 2023. By News Bureau

Adani Green Energy Ltd (AGEL) has achieved a significant milestone by becoming India's largest green energy company, with a total installed capacity of 8.4 gigawatts (GW). The company recently commissioned a 0.15 GW solar power park in Rajasthan, which propelled its solar capacity to over 5 GW, contributing to the 8.4 GW overall capacity.

Among its competitors, ReNew is the closest with an 8.3 GW capacity, followed by Tata Power and Greenko Energies, each with approximately 4 GW of capacity. The state-owned NTPC has a green energy capacity of 3.2 GW.

AGEL currently operates the country's largest solar portfolio with 5 GW capacity. The company's management has set an ambitious target to commission between 2.8 GW and 3 GW in the current financial year (FY24), with a capital expenditure of around INR 14,000 crore.

AGEL's upcoming projects are slated for states such as Rajasthan, Gujarat, Andhra Pradesh, and Karnataka, as outlined in the company's corporate presentations. AGEL previously announced its ambitious goal of achieving 45 GW of renewable energy capacity by 2030.

Approximately 97 percent of AGEL's capacity is secured through long-term fixed tariff Power Purchase Agreements (PPAs) with a duration of 25 years, and the average portfolio tariff stands at INR 3.02 per unit, ensuring the company's stable and sustainable revenue stream.

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