Adani Green Energy Limited Q4FY21

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Adani Green Energy Limited Q4FY21. Adani Green Energy Ltd. [“AGEL”], a part of the Adani Group, today announced the financial results for the quarter and financial year ended March 31, 2021.

Sale of Energy for FY21 increased by 25% YoY on the back of capacity addition of 925
MW and consistent Solar and Wind CUF.

 Solar CUF remained consistent in FY21 with improvement of 60 bps YoY in plant availability at ~ 100%.
 Wind CUF remained consistent in FY21 with improvement of 540 bps YoY in plant availability at 95%.

AGEL added 925 MW operational capacity in FY21 despite pandemic:
 575 MW Green field commissioning: 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.

 350 MW Acquisitions completed: 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 Powerprojects.

AGEL is awarded/ declared L1 bidder for 13,550 MW new renewable projects in FY21 taking locked-in growth up to ~ 20,000 MW

 In FY21, AGEL received Letters of Award for 8,900 MW renewable projects. This includes (i) 8,000 MW solar projects from Solar Energy Corporation of India, (ii) 600 MW Solar-Wind Hybrid project from Solar Energy Corporation of India and (iii) 300 MW wind project from Solar Energy Corporation of India.

Other Key Achievements in FY21:

 AGEL is ranked as the Largest Developer of Solar Power in the world by US based Mercom Capital.

 ‘Leadership in Performance’ award conferred to AGEL’s solar plant in Karnataka and Wind plant in Gujarat from shortlisted top performing plants across India at CII Performance Excellence Awards 2020.

 AGEL sealed USD 1.35 billion senior debt facility in one of Asia’s largest project financing deals with participation from 12 international banks to finance its under- construction renewable portfolio. This strengthens AGEL’s strategy to fully fund its under construction asset portfolio and brings it a step closer to its vision of 25 GW capacity by 2025.

 Adani and TOTAL deepened their strategic alliance with (i) Conclusion of 50:50 JV between AGEL and TOTAL that houses 2,353 MW operational solar assets and (ii) acquisition of 20% equity stake in AGEL by way of purchase of shares held by Adani Promoter group.

TOTAL made aggregate investment of USD 2.5 bn towards acquisition of aforesaid JV and 20% stake in AGEL. The investment in AGEL is another step in the strategic alliance between Adani Group and TOTAL, across various businesses and companies of the Adani Group, covering investments in LNG terminals and gas utility business. This is in-line with the commitment of both Adani & TOTAL to be leading participants in the sustainable economy of the future and help India in its quest for development of renewable energy.

Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said, “FY21 has been an eventful year for Adani Green Energy witnessing robust operational performance and rapid capacity build-up despite the pandemic, new strategic alliances and tie up of a revolving project finance facility.

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