Adani Green Launches Three Step-Down Subsidiaries in Renewable Segment

Three new subsidiary businesses for the renewable energy industry have been incorporated by Adani Renewable Energy Holding Four Limited. Adani Renewable Energy Holding Four Limited is its subsidiary, and the recently established firms are its step-down subsidiaries, according to a statement released by Adani Green Energy Ltd (AGEL).

“Three brand-new subsidiaries have been incorporated by Adani Renewable Energy Holding Four Limited. Using wind, solar, and other renewable energy sources, the new subsidiary’ primary goal is to produce, develop, transform, distribute, transmit, sell, and supply any type of power or electrical energy ” the company stated.

Adani Renewable Energy Thirty Six Limited, Adani Renewable Energy Forty Limited, and Adani Renewable Energy Forty Seven Limited are the names of the three new subsidiary firms.

On October 3, 2022, the subsidiaries were established and registered with the Registrar of Companies, Gujarat in Ahmedabad; however, these subsidiaries have not yet started conducting business.

Recently, the Central Electricity Regulatory Commission (CERC) and State Electricity Regulatory Commissions (SERCs), Adani Green Energy celebrated early this week when the Appellate Tribunal For Electricity (APTEL) permitted their plea for allowing carrying cost pass-through under the “Change in Law” definition of most PPAs. The Tribunal ordered CERC to issue decisions regarding petitions filed by the developer through its various subsidiaries seeking compensation for the “Change in Law” brought about by the implementation of the goods and services tax (GST) and safeguard duty on imports of solar modules.

Additionally, In Madhya Pradesh’s Dhar area, Adani Green Energy Limited commissioned a 325MW wind energy power plant. With this, Adani Green Energy Limited’s (AGEL) operational generation capacity has increased to 6.1 gigawatts. Apart from this, Adani Green Energy Limited (AGEL) claimed earlier to have commissioned the first ever wind-solar hybrid power generation project in India. In an official statement, Adani Green announced that its subsidiary Adani Hybrid Energy Jaisalmer One Limited (AHEJOL) commissioned a 390 MW wind-solar hybrid power plant in Rajasthan.