Adani Green Energy net profit rises 14% to Rs 49 cr 

Spread the love

: Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, today announced the financial results for the quarter and ninemonthsended December 31, 2021.The performance snapshot for the periodis as follows:

Financial Performance – Q3&9MFY22:

(Rs. Cr.)

ParticularsNine months performanceQuarterly performance
9M FY229M FY21% changeQ3 FY22Q3 FY21% Change
Revenue from Power Supply2,6551,72954%97359165%
       
EBITDA from Power Supply 12,4741,58256%89553268%
EBITDA from Power Supply (%)92.4%90.8% 91.2%90.0% 
       
Cash Profit 21,29287747%43228552%

Operational Performance – Q3&9MFY22:

ParticularsNine months performanceQuarterly performance
9M FY229M FY21% changeQ3 FY22Q3 FY21% change
Sale of Energy (Mn units)6,4563,85767%2,5041,27397%
Solar5,3803,39259%2,3001,17296%
Wind1,076465131%204101102%
       
Solar portfolioCUF (%)22.6%22.1% 21.9%20.8% 
Wind portfolioCUF (%)33.2%28.5% 18.6%18.5% 
  • Increase in sale of energy in 9M FY22 is backed by capacity addition of 2,460 MWand improved solar and wind CUF.
  • Solar CUF improvementin 9M FY22 is backed byintegration of high-quality SB Energy portfolio, consistent high plant availability of ~ 100% and improved grid availabilityof~ 99%.
  • Wind CUF improvementis backed by technologically advanced and more efficient newly added Wind Turbine Generators (WTG), improved plant availability of~ 96%,improved grid availability of ~ 100% and improved wind speed.

“The continued robust operational performance and improving visibility of growth with firm PPAs demonstrate that we are well on track to become the largest renewable player by 2030” said Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd. He further said,“Our commitment towards ESG is only getting stronger with the global recognition of our efforts to light up the world with green energy and to further incorporate the best ESG practices on all fronts.”

Other Recent Updates:

  • AGEL becomes the first Indian member of GRI South Asia charter strengthening its commitment for sustainability imperatives as per UN SDG 7, 9 and 13
  • Adani Green Energy Ltd (AGEL) has received approval for being a member of the GRI South Asia Charter on Sustainability Imperatives. AGEL became signatory to the charter in April 2021. Firming up further, the company has now submitted a declaration with clearly identified UN Sustainable Development Goals (SDG) where it can make an impact in following years. Pursuant to this submission, AGEL has received the approval to become a member.
  • The commitments are towards SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate Action). AGEL has announced a target of having operating renewable energy generation capacity of 25 GW by 2025 and 45 GW while keeping the average tariff below nationalAverage Power Purchase Cost(APPC). The cost reduction will be achieved by improvement of technology, optimization of resources using Internet of Things (IoT) and machine learning related digital interventions.
  • The GRI South Asia Charter on Sustainability Imperatives – a unique creation by GRI South Asia Hub – is a clarion call for business and its stakeholders. It is anchored to a framework of transparency and disclosure, as enshrined in the GRI Standards, and provides an ameliorating way out of the quagmire. The Charter serves as an important stimulus to implement sustainability-oriented imperatives that help realize the UN Sustainable Development Goals by the end of the current decade.

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *