AGEL reports highest Revenue and Cash Profit ever in a quarter

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Adani Renewables

Adani Green Energy Ltd. [“AGEL”], a part of the Adani Group, today announced the financial results for the quarter ended June 30, 2021. The Operational Performance Snapshot for the period is as follows:

Financial Performance – Q1 FY22:

(Rs. Cr.)

ParticularsQuarterly performance
Q1 FY22Q1 FY21% Change
Total Income1,07987823%
Revenue from Power Supply84860939%
Total EBITDA 389268031%
EBITDA from Power Supply 478956041%
EBITDA from Power Supply (%)92.5%91.2% 
Cash Profit 546034235%

“AGEL’s growth continues to accelerate,” said Mr. Gautam Adani, Chairman of the Adani Group. “In just two years, AGEL has marched to the very forefront of the world’s renewable energy brigade, accelerating the transition to green energy faster than any other company in the world. The acquisition of SB Energy’s high quality renewable energy portfolio has further consolidated our position as the world’s largest solar player thereby keeping us on track to become the world largest renewables player by 2030. Renewable energy is at a massive inflexion point in its young journey and we are well positioned.”

Operational Performance – Q1 FY22:

ParticularsQuarterly performance
Q1 FY22Q1 FY21% change
Sale of Energy (Mn units)2,0541,38548%
Solar portfolioCUF (%)25.0%24.8% 
Wind portfolioCUF (%)38.5%36.9% 
  • Sale of Energy increased by 48% YoY on the back of capacity addition of 1,075 MW and improved Solar and Wind CUF.
  • Solar CUF improved with 20 bps improvement in grid availability, consistently high plant availability of 99.6% and consistent solar irradiation.
  • Overall Wind portfolio CUF improved backed by higher efficiency of new wind plants with technologically advanced Wind Turbine Generators.

Other Updates – Q1 FY22:

  1. AGEL commissioned renewable projects ahead of schedule despite pandemic:
  • 150 MW wind plant commissioned in Gujarat: Adani Wind Energy Kutchh Three Limited, a subsidiary of AGEL, commissioned 150 MW wind power project in Kutchh, Gujarat, 9 months ahead of its schedule.
  • 50 MW solar plant commissioned in Uttar Pradesh: Adani Solar Energy Chitrakoot One Ltd, a subsidiary of AGEL, commissioned 50 MW solar power plant in Chitrakoot, Uttar Pradesh.
  • AGEL is in the process of acquiring SB Energy’s 5 GW India renewable portfolio – India’s largest renewables M&A transaction
  • Signed definitive agreements for 100% acquisition of SB Energy Holdings Limited (“SB Energy India”). It houses 4,954 MW of renewable assets in India. The target portfolio consists of 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW). The portfolio comprises of 1,700 MW operational solar power capacity (300 MW commissioned post definitive agreements), 2,554 MW renewable projects under implementation and 700 MW project pipeline.
  • The portfolio comprises of high quality, large scale utility renewable assets. All projects are contracted to sell power under 25 years Power Purchase Agreements (PPA) with sovereign rated counterparties.

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