About
Adani Green Energy Ltd
Adani Green Energy Limited is among the largest renewable energy businesses in India with a current project portfolio of 20,434 MW. The Adani Group has been promoted by the visionary industrialist Mr. Gautam Adani in 1988 as a commodity trading business, the flagship company being Adani Enterprises Limited (previously Adani Exports Limited). Headquartered in Ahmedabad, India, Adani Group comprises the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Power Generation, Transmission & Distribution, Integrated Resource Management, Renewable Energy, Gas & Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Solar Manufacturing, Real Estate, Public Transport Infrastructure, Defence & Aerospace, Mining Services, Copper, Petrochemicals, Data Centre and other sectors. Apart from this, it establishes, builds, develops, operates and maintains utility- scale grid connected solar power, wind power, hybrid projects and solar parks.
The Company has expanded its presence across 11 Indian States with the help of long-term Power Purchase Agreements (PPAs) with Central and State Government entities. It has 5,410 MW operational projects and 15,024 MW under construction. Presently, the Company has installed capacity of 12 MW at Lahori to augment renewable power supply in Madhya Pradesh. It sells power generated from 12 MW wind power project under long term Power Purchase Agreement (PPA) and is engaged in renewable power generation and purchase/ sale of other ancillary goods.
Adani Green Energy was incorporated on 23 January 2015 as a subsidiary of Adani Enterprises Limited (AEL) with an objective of dealing in any kind of power or electrical energy using coal, lignite, petroleum products or any other substances, wind energy, solar energy, renewable energy, wave energy, tidal energy, hydro energy, thermal energy or any other form of energy and any products or byproducts derived from any such business of energy and to set up power plants, wind turbines, power stations, hydel power station, solar energy systems, renewable energy systems or any other facility to generate power.
The first accounting period of the company was from 23 January 2015 to 31 March 2016. The paid up share capital of the company increased from Rs. 5 lacs to Rs. 160 crore during the period under review.
During the period under review, Adani Green Energy signed contract with Inox Wind Limited for setting up of wind power project of 20 MW capacity at Lahori, Madhya Pradesh. Out of this, 12 MW capacity has achieved commercial operation as on 31 March 2016. The company also won 50 MW Solar Power bid in the state of Jharkhand from JREDA under Jharkhand State Solar Power Policy 2015.
During the period under review, Adani Green Energy's subsidiary company Adani Renewable Energy Park Limited entered into Joint Venture Agreement with Government of Rajasthan and formed a Joint Venture Company under the name 'Adani Renewable Energy Park (Rajasthan) Limited' with equity ratio of 50:50.
During the year ended 31 March 2017, Adani Properties Private Limited transferred 9,36,31,650 Equity Shares of Rs. 10/- each held by it in Adani Green Energy to Universal Trade and Investments Limited.
On 20 December 2017, Adani Green Energy disposed off 50,000 Equity Shares of Zemira Renewable Energy Limited (Zemira) (erstwhile known as Adani Wind Energy (AP) Limited) constituting 100% of paid-up share capital of Zemira. Accordingly, Zemira ceased to be subsidiary of the company.
On 22 March 2018, Adani Green Energy acquired 49% of Equity Shares of Kodangal Solar Parks Private Limited (KSPPL). Accordingly, KSPPL became a joint venture of the company.
The National Company Law Tribunal, bench at, Ahmedabad had, vide its order dated 16 February 2018 sanctioned the Scheme of Arrangement among Adani Enterprises Limited (AEL) and Adani Green Energy Limited (AGEL) and their respective shareholders and creditors (the Scheme). The Scheme, with effect from 1 April 2018, inter alia, provides for transfer and vesting of Renewable Power Undertaking of AEL to AGEL. As per the Scheme, 100% investment of AEL into Equity Shares of Prayatna Developers Private Limited (PDPL) was transferred to AGEL with effect from the appointed date i.e. 1 April 2018. Accordingly, PDPL became wholly-owned subsidiary of AGEL with effect from 1 April 2018.
The company had 15 (direct and indirect) subsidiaries and 1 joint venture as on 31 March 2018.
Upon the Scheme of Arrangement among Adani Enterprises Limited and Adani Green Energy Limited and their respective shareholders and creditors, coming into effect from 01 April 2018, the Company had issued 761 Equity Shares of Rs 10/- each to shareholders of Adani Enterprises Limited against every 1,000 Equity Shares held by them. Accordingly, 64,96,89,000 Equity Shares held by Adani Enterprises Limited in the Company alongwith its nominees were cancelled and 83,69,55,473 Equity Shares were issued by the Company on 08 April 2018.
The Equity Shares of the company got listed on BSE Limited, Mumbai and the National Stock Exchange of India Limited, Mumbai on 18 June 2018.
The Company had 39 (direct and indirect) subsidiaries and 1 Joint Venture as on 31 March 2019.
The Company has entered into a Joint Venture Agreement dated 03 April 2020 with Total Solar Singapore Pte Ltd ('Total'), to record the terms and conditions for (i) regulating the operation and management of the JV Company; (ii) governing the relationship between the Company and Total; (iii) certain rights and obligations of the Company and Total in relation to the JV Company. The JV Company owns 2,148 MW operational Solar Power Project. The Company and Total, both, own 50% shareholding of the JV Company.
The Company refinanced its 648 MW Kamuthi Solar PV project from Power Finance Corporation in FY 2019-20, refinancing its operational solar portfolio.
The company had 74 (direct and indirect) subsidiaries and 1 Joint Venture as on 31 March 2020.
The company added 925 MW operational capacity in FY21 despite pandemic. In FY21, AGEL commissioned 100 MW solar plant in Rajasthan, 250 MW solar plant in Gujarat, 125 MW solar plant in Uttar Pradesh and 100 MW wind plant in Gujarat.In FY21, AGEL completed acquisition of 205 MW solar plants from Essel Group, 75 MW solar plants from Sterling & Wilson, 50 MW solar plants from SkyPower Global, 20 MW solar plant from Hindustan Power projects.
The company had 116 (direct and indirect) subsidiaries, associates and 1 Joint Venture as on 31 March 2021.
In FY'21, It acquired 23.5% stake in India's leading airports - Mumbai airport.
The Company acquired 100% holdings of SB Energy Holdings Limited in FY'21.
In December 2021, Company signed the world's largest renewables power purchase agreement for 4.67GW capacity as part of the record-breaking 8GW solar generation in SECI's first manufacturing-linked solar tender. It engaged in the largest acquisition in India's renewable energy space when it acquired SB Energy's ~5 GW portfolio for USD 3.5 billion. It enhanced the availability of probable project land parcels to 2,00,000 hectares as of now.
As of March 31, 2022, Company operated 5.4 GW of renewable assets and was implementing ~15 GW projects, creating a locked-in portfolio of ~20.4 GW.
In FY'22, Company invested in India's largest Bi-Facial & Tracker-based solar project; it was the first to use string inverters, enhancing energy stability. It commissioned India's first hybrid energy park, which reconciles solar and wind renewable energy infrastructure within the same location, strengthening Return on Land and empowering to generate power through all 24 hours. It increased the largest energy generation capacity of ~3 GW; It signed ~6 GW of power purchase agreements out of 8 GW of manufacturing-linked solar projects, the world's largest PPA. It mobilized US $750 million through a bond issuance for setting a global benchmark. It acquired of Softbank's 5 GW renewable energy portfolio. It commenced operations of Bravus mine in Australia. It took over operations of the Guwahati, Jaipur and Thiruvananthapuram airports and acquired of MIAL and NMIAL. During FY 2021-22, it acquired the 4.9 GW of renewable portfolio of Softbank and Bharti Group. This acquisition helped leapfrog its aggregate capacity, empowering AGEL to achieve 25 GW capacity target for 2025 ahead of schedule. It commissioned the Khavda Land project and tied up to accommodate 15 GW renewable projects in Khavda (Gujarat). The Company also secured land needs for its 45 GW ambition by 2030. It acquired Mumbai and Navi Mumbai airports. The Adani Wilmar Limited IPO subscribed 17x. Its combined Group market capitalisation exceeded USD 200 billion. It added 1,940 MW operational capacity in FY 2021-22 (greenfield commissioning 200 MW and inorganic addition 1,740 MW). It forged long-term contracts with Bloomberg Tier-1 rated solar equipment manufacturers and wind turbine generators, reconciling customized solutions and timely project completion. It signed the world's largest PPA with SECI to supply ~6 GW of renewable energy.
During the year 2022-23, Company acquired 100% equity share capital of three entities, Wind One Renergy Limited, Wind Three Renergy Limited and Wind Five Renergy Limited from Inox Green Energy Services Limited on October 10, 2022, each housing 50 MW operational wind power projects.
AGEL added a massive 2,676 MW renewable capacity to its operational fleet in FY 2022-23, which includes 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh and 212 MW solar power plants in Rajasthan. AGEL signed PPAs for 450 MW wind projects and 650 MW solar projects with SECI in FY 2022-23 further strengthening the firm project pipeline.
Adani Green Energy S L Limited was incorporated as a wholly owned subsidiary of the Company effective from April 21, 2022.
Adani Green Energy Ltd
Chairman Speech
Optimism comes from Resilience. Resilience comes from Belief. Belief is
Optimism
To say the world is in uncharted waters would be an understatement,
The adverse impact of a mix of the pandemic, armed conflict and climate
change has exposed the fragility of the global system that we had largely considered as
having competently learned how to manage itself. It has now dawned on governments across
the world that the implications of this multidimensional crisis are hard to predict, may
complicate further and that signs of its damaging effects - uncontrolled inflation,
disrupted food supplies, increased human displacement, exposed healthcare machinery,
stalled education levels and faltering job creation ecosystems - are evident and testing
the resilience of every nation.
Resilience is defined as the characteristic that makes it possible to
rebound into shape; it is the ability to withstand crises; it is the ability to face
uncertainties with curiosity and optimism. This capacity to rebound is becoming harder to
model or predict as the crises drivers are becoming harder to anticipate and increasingly
intermingled. While there is always room for debate, there can be no denying that, looking
back, India has emerged far better in its handling of the Covid-19 crisis from the
humanitarian and economic perspectives than most developed economies. India has been able
to take a mature approach to the ongoing conflict and has been one of the most aggressive
nations in terms of establishing a renewable energy target for itself; while doing all of
this, India has also emerged as the fastest growing major economy.
The overarching takeaway is that despite global instability, India has
fared better than almost any other major nation. While there were situations over the past
24 months when it appeared that events were getting out of control, we must give credit
where credit is due - India was able to bounce back each time, a testimony to our nation's
resilience. In my view, utopian as some may call it, India's resilience comes from its
historic culture that has been shaped across thousands of years - a model of co-existence
that actually works and the philosophy of 'vasudhaiva kutumbakam', which means that the
world is one family.
A culture of resilience
It is India's inherent resilience that provides our nation its
underlying optimism. My belief in our nation has never been higher. To use a cricketing
analogy, we are now playing on one of the strongest home grounds and on one of the firmest
pitches that has ever existed. This pitch is expected to remain firm for several decades.
Optimism comes from resilience. Resilience comes from belief. And belief is optimism.
In our case, it is this resilience, optimism and belief that drives us.
The primary reason for the success of the Adani Group comes from our alignment with the
India growth story. Never have we shied from investing in India, never have we slowed our
investments, and never have we feared to enter adjacent sectors - our resilience comes
from this unshakeable belief and confidence in the aspirations of our fellow Indians and
the future of India.
During the journey of more than 25 years, there were uncharted waters
we entered and multidimensional crises that we faced. While we may have stumbled a few
times, we were always able to get back on our feet. Our ability to rise after every
stumble meant we grew bigger and stronger by drawing on our experience. It is these
experiences that have enriched us with resilience and laid the foundation of our optimism.
At a fundamental level, our strategy is linked to the strategy of the
nation. Over the past decades, we have always believed in the policies announced by the
Government, have continued to invest through all economic cycles, watched for emerging
sectors critical for the country's growth and entered new sectors with a confidence in our
learning and operating abilities. We have grown adjacency by adjacency without getting
hung up on textbook business models. We have built infrastructure anticipating a far
larger and greater India; this confidence has paid dividends.
The sum of these investments of the past empowered us to address the
present crisis and set us up stronger to handle any new crisis in the future. It is this
future that unfolded over the period 2021-22. This was a year when we announced ourselves
to the world. In 2021-22, our confidence in our ability was validated. Our belief in our
past defines our ability to believe in our future, translating into the big bets that we
make.
Preparing to go 'green'
The best recent evidence for our confidence and belief in the future
has been the USD 70 billion investment we announced in facilitating India's 'green'
transition. We are already one of the world's largest developers of solar power. Our
strength in renewables will empower us enormously in our effort to make 'green' hydrogen,
the fuel of the future; it will equip us to produce the least expensive 'green' electron
and the least expensive hydrogen. We are leading the race to transform India from a
country that is over-reliant on imported oil and gas to a country that can become a net
exporter of clean energy. This would be a 'never- done-before' transformation in fortunes
in a stunningly short period of time across the largest scale. This transformation will
help reshape India's energy footprint in an extraordinary way.
While we are now a major global renewable energy player, we made
remarkable progress in several other industries. In one stroke, we have become the largest
airport operator in India. Around the airports where we operate, we are engaged in the
adjacent business of building aerotropolises and creating localised community-based
economic centres. We have made entries in sectors ranging from data centres, super apps
and industrial clouds to defence and aerospace, metals and materials - all aligned with
the Government's vision of an Atmanirbhar Bharat.
We continue to grow as builders of India's infrastructure, winning some
of the largest road contracts in the nation and growing our already substantial market
share in businesses like ports, logistics, transmission and distribution, city gas and
piped natural gas. The successful IPO of Adani Wilmar made us the largest FMCG company in
the country and we are now the second largest cement manufacturer in India. This year, our
combined Group market capitalisation exceeded USD 200 billion. We raised billions of
dollars from the international markets - a validation of confidence in the India and Adani
growth stories. This growth and success have been recognised around the world. Foreign
governments now come to us with proposals to work in their geographies and help build
their infrastructure. The result is that in 2022 we laid the foundation to seek a broader
expansion beyond India's boundaries.
Robust results, record numbers
The growth in our market capitalisation has been supported by a robust
and sustained growth in our cash flows. Our focus on operational excellence and accretive
capacity addition delivered, across our portfolio, an EBITDA growth of 26%. Portfolio
EBITDA stood at H42,623 crore. This growth was diversified and reflected across our
businesses, the results speaking for themselves.
Group highlights
• Our Utilities portfolio grew 26%
• Our Transport and Logistics portfolio grew 19%
• Our FMCG portfolio grew 34%; and
• Our Incubator business, represented by AEL, grew 45%
The high growth of our incubator AEL provides the group with a robust
foundation for the continued development of new businesses for yet another big decade.
AELs unique business model has no parallel and we intend to leverage this further.
Segment highlights
AGEL
• Adani Green Energy Limited added 1,940 MW operational capacity
in FY 2021-22 (greenfield commissioning 200 MW and inorganic addition 1,740 MW)
• Adani Green Energy Limited's solar capacity utilisation factor
(CUF) improved 130 bps YoY to 23.8% and wind CUF improved 400 bps YoY to 30.8% in FY
2021-22
ATL
• Adani Transmission Limited added 1,104 ckm to its network,
reaching 18,795 ckm, and sold a record 7,972 million units during the year.
APSEZ
• Adani Ports and Special Economic Zone Limited cargo volume grew
26% to 312 MMT in FY 2021-22; the journey from 200 MMT to 300 MMT in cargo volume was
achieved in the record time of just three years.
• Adani Ports and Special Economic Zone Limited also handled
record container volume of 8.2 million TEUs, a growth of 14%
ATGL
• Adani Total Gas Limited added 117 CNG stations, 556 commercial,
154 industrial and 85,840 domestic customers, a combined volume of 697 MMSCM (CNG+PNG)
Strategic highlights
• Adani Green Energy Limited completed the acquisition of
Softbank's 5 GW renewable energy portfolio
• Adani Enterprises Limited commenced operations of its Bravus
mine in Australia.
• Adani Enterprises Limited took over operations of the Guwahati,
Jaipur and Thiruvananthapuram airports and completed the acquisitions of MIAL and NMIAL.
While we can look back and feel content, we are only now gathering
momentum, What we have built over two decades is India's largest integrated infrastructure
business based on a rapid extension into adjacent businesses. The result is that this is
now being transformed into an integrated 'platform of platforms' that combines energy with
logistics. This is moving us closer to an unprecedented access to the Indian consumer, I
know of no company that has such a business model with potential access to an unlimited
B2B and B2C market for the next several decades.
A landmark year
It is here that I also want to take a moment to reflect on 2022 as a
year with special personal meanings, It represents the 100th birth anniversary of my
inspiring and role model father Shri Shantilal Adani, and my 60th birthday, To mark this
milestone, the Adani family came together and decided to contribute H60,000 crore towards
charitable activities related to healthcare, education and skill development, especially
for rural India, These three areas should be seen holistically, rather than separately,
because they collectively form the drivers for an equitable and future-ready India.
We have an opportunity in India to decisively lift tens of millions of
people permanently out of poverty, We owe it to ourselves and our country to do everything
we can to catalyse that process, Our experience in large project planning and execution
and the learnings from the ongoing work done by the Adani Foundation will help us uniquely
accelerate and implement these programmes across societies that need them the most.
The road ahead
Getting back to the theme of optimism as a driving force for a society,
Martin Seligman, often referred to as the 'father of positive psychology', wrote in the
Harvard Business Review that he came to his insights into the power of optimism 'the long,
hard way, through many years of research on failure and helplessness,' Essentially, he
discovered over several years of studies, that resilient people develop the courage of
interpreting setbacks as temporary, local and changeable, A quote attributed to Winston
Churchill echoes Seligman's findings on resilience, "Success is not final,"
Churchill is supposed to have said, -failure is not fatal: it is the courage to continue
that counts".
The reason I have always been inspired by writing and thinking around
resilience is because as an entrepreneur, my philosophy has always been to keep trying.
I am an incurable optimist, My optimism is founded on my belief in our
ability to create a better future, This is why I always argue that India has become one of
the greatest countries in which to be an entrepreneur, The prospects and potential for the
future are dazzlingly bright, In India, I see a real relish to finally reclaim our former
economic stature and our position as a pivotal force in global affairs, There will be
bumps along the road, as has been the case in the past, and is expected to be the case in
the future, However, there cannot be any doubt that the largest middle-class that will
ever exist, augmented by an increase in the working age and consuming population share,
will have a positive impact on India's growth rates, much in line with the demographic
dividend that India enjoys.
I have no reason to believe that over the next two decades we will not
suitably address this challenge, It is a virtuous cycle that is driven by the growth in
the middle-class population and India today enjoys the world's firmest pitch on which to
bat.
  Â
Adani Green Energy Ltd
Company History
Adani Green Energy Limited is among the largest renewable energy businesses in India with a current project portfolio of 20,434 MW. The Adani Group has been promoted by the visionary industrialist Mr. Gautam Adani in 1988 as a commodity trading business, the flagship company being Adani Enterprises Limited (previously Adani Exports Limited). Headquartered in Ahmedabad, India, Adani Group comprises the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Power Generation, Transmission & Distribution, Integrated Resource Management, Renewable Energy, Gas & Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Solar Manufacturing, Real Estate, Public Transport Infrastructure, Defence & Aerospace, Mining Services, Copper, Petrochemicals, Data Centre and other sectors. Apart from this, it establishes, builds, develops, operates and maintains utility- scale grid connected solar power, wind power, hybrid projects and solar parks.
The Company has expanded its presence across 11 Indian States with the help of long-term Power Purchase Agreements (PPAs) with Central and State Government entities. It has 5,410 MW operational projects and 15,024 MW under construction. Presently, the Company has installed capacity of 12 MW at Lahori to augment renewable power supply in Madhya Pradesh. It sells power generated from 12 MW wind power project under long term Power Purchase Agreement (PPA) and is engaged in renewable power generation and purchase/ sale of other ancillary goods.
Adani Green Energy was incorporated on 23 January 2015 as a subsidiary of Adani Enterprises Limited (AEL) with an objective of dealing in any kind of power or electrical energy using coal, lignite, petroleum products or any other substances, wind energy, solar energy, renewable energy, wave energy, tidal energy, hydro energy, thermal energy or any other form of energy and any products or byproducts derived from any such business of energy and to set up power plants, wind turbines, power stations, hydel power station, solar energy systems, renewable energy systems or any other facility to generate power.
The first accounting period of the company was from 23 January 2015 to 31 March 2016. The paid up share capital of the company increased from Rs. 5 lacs to Rs. 160 crore during the period under review.
During the period under review, Adani Green Energy signed contract with Inox Wind Limited for setting up of wind power project of 20 MW capacity at Lahori, Madhya Pradesh. Out of this, 12 MW capacity has achieved commercial operation as on 31 March 2016. The company also won 50 MW Solar Power bid in the state of Jharkhand from JREDA under Jharkhand State Solar Power Policy 2015.
During the period under review, Adani Green Energy's subsidiary company Adani Renewable Energy Park Limited entered into Joint Venture Agreement with Government of Rajasthan and formed a Joint Venture Company under the name 'Adani Renewable Energy Park (Rajasthan) Limited' with equity ratio of 50:50.
During the year ended 31 March 2017, Adani Properties Private Limited transferred 9,36,31,650 Equity Shares of Rs. 10/- each held by it in Adani Green Energy to Universal Trade and Investments Limited.
On 20 December 2017, Adani Green Energy disposed off 50,000 Equity Shares of Zemira Renewable Energy Limited (Zemira) (erstwhile known as Adani Wind Energy (AP) Limited) constituting 100% of paid-up share capital of Zemira. Accordingly, Zemira ceased to be subsidiary of the company.
On 22 March 2018, Adani Green Energy acquired 49% of Equity Shares of Kodangal Solar Parks Private Limited (KSPPL). Accordingly, KSPPL became a joint venture of the company.
The National Company Law Tribunal, bench at, Ahmedabad had, vide its order dated 16 February 2018 sanctioned the Scheme of Arrangement among Adani Enterprises Limited (AEL) and Adani Green Energy Limited (AGEL) and their respective shareholders and creditors (the Scheme). The Scheme, with effect from 1 April 2018, inter alia, provides for transfer and vesting of Renewable Power Undertaking of AEL to AGEL. As per the Scheme, 100% investment of AEL into Equity Shares of Prayatna Developers Private Limited (PDPL) was transferred to AGEL with effect from the appointed date i.e. 1 April 2018. Accordingly, PDPL became wholly-owned subsidiary of AGEL with effect from 1 April 2018.
The company had 15 (direct and indirect) subsidiaries and 1 joint venture as on 31 March 2018.
Upon the Scheme of Arrangement among Adani Enterprises Limited and Adani Green Energy Limited and their respective shareholders and creditors, coming into effect from 01 April 2018, the Company had issued 761 Equity Shares of Rs 10/- each to shareholders of Adani Enterprises Limited against every 1,000 Equity Shares held by them. Accordingly, 64,96,89,000 Equity Shares held by Adani Enterprises Limited in the Company alongwith its nominees were cancelled and 83,69,55,473 Equity Shares were issued by the Company on 08 April 2018.
The Equity Shares of the company got listed on BSE Limited, Mumbai and the National Stock Exchange of India Limited, Mumbai on 18 June 2018.
The Company had 39 (direct and indirect) subsidiaries and 1 Joint Venture as on 31 March 2019.
The Company has entered into a Joint Venture Agreement dated 03 April 2020 with Total Solar Singapore Pte Ltd ('Total'), to record the terms and conditions for (i) regulating the operation and management of the JV Company; (ii) governing the relationship between the Company and Total; (iii) certain rights and obligations of the Company and Total in relation to the JV Company. The JV Company owns 2,148 MW operational Solar Power Project. The Company and Total, both, own 50% shareholding of the JV Company.
The Company refinanced its 648 MW Kamuthi Solar PV project from Power Finance Corporation in FY 2019-20, refinancing its operational solar portfolio.
The company had 74 (direct and indirect) subsidiaries and 1 Joint Venture as on 31 March 2020.
The company added 925 MW operational capacity in FY21 despite pandemic. In FY21, AGEL commissioned 100 MW solar plant in Rajasthan, 250 MW solar plant in Gujarat, 125 MW solar plant in Uttar Pradesh and 100 MW wind plant in Gujarat.In FY21, AGEL completed acquisition of 205 MW solar plants from Essel Group, 75 MW solar plants from Sterling & Wilson, 50 MW solar plants from SkyPower Global, 20 MW solar plant from Hindustan Power projects.
The company had 116 (direct and indirect) subsidiaries, associates and 1 Joint Venture as on 31 March 2021.
In FY'21, It acquired 23.5% stake in India's leading airports - Mumbai airport.
The Company acquired 100% holdings of SB Energy Holdings Limited in FY'21.
In December 2021, Company signed the world's largest renewables power purchase agreement for 4.67GW capacity as part of the record-breaking 8GW solar generation in SECI's first manufacturing-linked solar tender. It engaged in the largest acquisition in India's renewable energy space when it acquired SB Energy's ~5 GW portfolio for USD 3.5 billion. It enhanced the availability of probable project land parcels to 2,00,000 hectares as of now.
As of March 31, 2022, Company operated 5.4 GW of renewable assets and was implementing ~15 GW projects, creating a locked-in portfolio of ~20.4 GW.
In FY'22, Company invested in India's largest Bi-Facial & Tracker-based solar project; it was the first to use string inverters, enhancing energy stability. It commissioned India's first hybrid energy park, which reconciles solar and wind renewable energy infrastructure within the same location, strengthening Return on Land and empowering to generate power through all 24 hours. It increased the largest energy generation capacity of ~3 GW; It signed ~6 GW of power purchase agreements out of 8 GW of manufacturing-linked solar projects, the world's largest PPA. It mobilized US $750 million through a bond issuance for setting a global benchmark. It acquired of Softbank's 5 GW renewable energy portfolio. It commenced operations of Bravus mine in Australia. It took over operations of the Guwahati, Jaipur and Thiruvananthapuram airports and acquired of MIAL and NMIAL. During FY 2021-22, it acquired the 4.9 GW of renewable portfolio of Softbank and Bharti Group. This acquisition helped leapfrog its aggregate capacity, empowering AGEL to achieve 25 GW capacity target for 2025 ahead of schedule. It commissioned the Khavda Land project and tied up to accommodate 15 GW renewable projects in Khavda (Gujarat). The Company also secured land needs for its 45 GW ambition by 2030. It acquired Mumbai and Navi Mumbai airports. The Adani Wilmar Limited IPO subscribed 17x. Its combined Group market capitalisation exceeded USD 200 billion. It added 1,940 MW operational capacity in FY 2021-22 (greenfield commissioning 200 MW and inorganic addition 1,740 MW). It forged long-term contracts with Bloomberg Tier-1 rated solar equipment manufacturers and wind turbine generators, reconciling customized solutions and timely project completion. It signed the world's largest PPA with SECI to supply ~6 GW of renewable energy.
During the year 2022-23, Company acquired 100% equity share capital of three entities, Wind One Renergy Limited, Wind Three Renergy Limited and Wind Five Renergy Limited from Inox Green Energy Services Limited on October 10, 2022, each housing 50 MW operational wind power projects.
AGEL added a massive 2,676 MW renewable capacity to its operational fleet in FY 2022-23, which includes 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh and 212 MW solar power plants in Rajasthan. AGEL signed PPAs for 450 MW wind projects and 650 MW solar projects with SECI in FY 2022-23 further strengthening the firm project pipeline.
Adani Green Energy S L Limited was incorporated as a wholly owned subsidiary of the Company effective from April 21, 2022.
Adani Green Energy Ltd
Directors Reports
Adani Green Energy Ltd
Company Background
| Incorporation Year | 2015 |
| Registered Office | Adani Corporate House Shantigr,Nr Vaishno Devi Circle SG High
Ahmedabad,Gujarat-382421 |
| Telephone | 91-79-25555555,Managing Director |
| Fax | 91-79-26565500 |
Gautam S AdaniVneet S Jaain| Company Secretary | Pragnesh Darji |
| Auditor | Dharmesh Parikh & Co LLP/S R B C & Co LLP |
| Face Value | 10 |
| Market Lot | 1 |
| Listing | BSE,NSE, |
| Registrar | Link Intime India Pvt Ltd
C-101 247 Park,L B S Marg,Vikhroli West,Mumbai-400083 |
Adani Green Energy Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| Rajesh S Adani | Director | 2023 |
| Gautam S Adani | Chairman (Non-Executive) | 2023 |
| Pragnesh Darji | Company Sec. & Compli. Officer | 2023 |
| Sagar R Adani | Executive Director | 2023 |
| Dinesh Hashmukhrai Kanabar | Independent Director | 2023 |
| Vneet S Jaain | Managing Director & CEO | 2023 |
| Raminder Singh Gujral | Independent Director | 2023 |
| Romesh Sobti | Independent Director | 2023 |
| Ahlem Friga Noy | Director | 2023 |
| Sangkaran Ratnam. | Nominee | 2023 |
Adani Green Energy Ltd
Listing Information
| Listing Information |
|---|
| BSE_500 |
| BSE_200 |
| BSEDOLLEX |
| NIFTYJR |
| CNX500 |
| CNXENERGY |
| CNX100 |
| BSEPOWER |
| CNXSERVICE |
| CNX200 |
| CNXCOMMODI |
| CNXALPHAIN |
| BSEINFRA |
| NFT100EQWT |
| BSEALLCAP |
| BSELARGECA |
| BSEUTILITI |
| LMI250 |
| BSE100LTMC |
| NFTYLM250 |
| NFTY100ESG |
| NF500M5025 |
| NFTYTOTMKT |
Adani Green Energy Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Traded Goods | NA | 0 | 0 | 0 | 7616 |
| Power | NA | 0 | 0 | 0 | 11 |
| Generation Based Incentive | NA | 0 | 0 | 0 | 2 |
| Other Operating Income | NA | 0 | 0 | 0 | 0 |
| EPC | NA | 0 | 0 | 0 | 0 |
| Service Income | NA | 0 | 0 | 0 | 0 |