IPP
, India
158 view s
Logo from Adani Green Energy.

Adani unit cash profit up 50% in Q2 FY23

Its operational capacity grew 24% YoY to 6,724MW.

Adani Group’s renewables arm, Adani Green Energy, posted a 50% year-on-year (YoY) growth in cash profit to INR601 crore in the second quarter of the financial year 2023 as it saw increases in operational capacity revenue from the power supply.

In a statement, Adani said revenue for the first half of the financial year ending on 30 September 2022 rose 49% YoY to INR1,281 crore.

Its operational capacity was up 24% to 6,724 megawatts (MW) during the quarter of which 4,763MW were solar, 971MW were wind, and 990MW were hybrid solar-wind. The sale of energy during the quarter also rose 61% to 3,067 Mn units.

READ MORE: Adani Green Energy’s cash profit up 48% YoY to $86m in Q1 FY23

Adani Green Energy said its revenue from power supply rose 33% YoY to INR1,107 crore due to greenfield commissioning of 1,315MW and integrations of SB Energy’s operation portfolio of 1,700MW.

The company also noted that it maximised plant availability with the analytics-driven operations and maintenance (O&M) approach which enabled higher electricity generation and higher revenues. This also helped reduce O&M costs and enabled high earnings before interest, taxes, depreciation and amortisation margins.

Adani Green Energy Managing Director and CEO Vneet Jaain also cited the company’s development of India’s first and the world’s largest solar-wind hybrid capacity with a capacity of 990MW, and Madya Pradesh’s largest wind plant of 325MW whilst maintaining cost-effectiveness.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.