Adani Green Energy Limited (AGEL), a subsidiary of the Adani Group, has launched a new solar power project with a capacity of 37.5 megawatts (MW) in Gujarat’s Khavda region. The announcement was made through a regulatory filing on March 29, 2025, highlighting the company’s ongoing commitment to expanding its renewable energy portfolio.
The project, carried out by Adani Renewable Energy Fifty Seven Limited, a wholly-owned subsidiary of AGEL, is another achievement in the company’s ambitious renewable energy vision. The power generated from this project will be supplied to the Uttar Pradesh Power Corporation Limited (UPPCL) at a fixed tariff of ₹2.57 per kilowatt-hour (kWh) for a period of 25 years.
With the successful commissioning of this project, AGEL’s total renewable energy capacity has surged to 13,737.8 MW. The development follows closely on the heels of another significant project a 400 MW solar power plant set up by Adani Renewable Energy Holding Twelve Limited in Rajasthan. The combined efforts signal Adani Green Energy’s aggressive expansion in India’s solar sector.
AGEL has consistently demonstrated strong performance metrics in recent quarters. In the December quarter, the company achieved a consolidated net profit of ₹474 crore, an 85% year-over-year growth from ₹256 crore in the corresponding period last year. The power sales revenue also experienced a boost, rising from ₹1,765 crore to ₹1,993 crore, backed by higher power supply revenue.
Additionally, the company’s operational capacity grew by 37% year-on-year, reaching 11,609 MW, including 3,131 MW from newly commissioned power plants.
Adani Green Energy has been at the forefront of India’s renewable energy sector, contributing significantly to the country’s utility-scale solar and wind capacity additions.. In the calendar year 2024, AGEL’s solar installations accounted for 15% of India’s total utility-scale solar capacity, while its wind capacity additions constituted 12%.
The company’s market performance has been positive, with a 22.42% return to investors over the past month, despite a 1.24% drop in share prices to ₹948 on the Bombay Stock Exchange (BSE) on Friday. But in the past six months, the share has lost about 50%, in line with overall market movements.
Adani Green Energy’s focus on clean energy is in line with India’s drive towards green power sources, making the company a leader in the country’s energy transformation.
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