Adani Green's RE Capacities Grew 43% in Q1 on YoY

Adani Green’s RE Capacities Grew 43% in Q1 on YoY

By Saur News Bureau/ Updated On Fri, Jul 14th, 2023

Highlights :

AGEL reported lower CUF of wind power. It attributed this to lower wind speed and shutting down of wind plants during cyclone Biporjoy.
The highest growth of sales of energy was witnessed in AGEL’s solar-wind hybrid systems.

Adani Green’s RE Capacities Grew 43% in Q1 on YoY

Adani Green added 2140MW of renewable energy from its hybrid projects

Adani Green Energy Limited (AGEL), the renewable energy arm of Adani Group, increased its renewable energy capacities by 43 percent in Q1 on a Year-On-Year (YoY) basis. While it added 5,800 MW of renewable power in Q1 of FY23, it increased its capacity to 8,316 in Q1 of FY 24, reporting a 43 percent rise in its green energy capacities. AGEL said that during the Q1 of FY24, it added 1,750 MW of solar-wind hybrid projects, 212 MW of solar projects, and 554 wind power projects.

AGEL made the latest disclosures before the Bombay Stock Exchange (BSE). The report said that the sale of energy of AGEL increased 70 percent YoY at 6,023 million units in Q1 of FY24 compared to 3,550 MUs in Q1 of FY23. It also reported an increase in the CUF of its solar (26.9%), wind (38.7%), and hybrid (47.2%) portfolios on YoY.

It comes against the backdrop of its commissioning of 212 MW of solar power plant in Rajasthan and 554 MW of wind power plant in Gujarat. It also attributed the improved CUF performance in a solar portfolio to the highly consistent high plant availability and improved solar irradiation.

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It also reported an increase in wind energy sales by up to 34 percent on the back of a capacity increase from 647 MW to 1,201 MW on a YoY basis. AGEL, however, reported lesser plant availability of wind power, from 96.1% in Q1 of FY23 to 94.6% in Q1 of FY24. The grid availability and CUF for wind power (AC) also plunged YoY. AGEL reported the decrease of CUF of wind power to the relative lower wind speed, relative lower plant availability and shutting down of wind turbine generators during the Biparjoy cyclone in Gujarat.

However, the highest growth in the sale of energy of AGEL was recorded in the Q1 of FY24 from its hybrid plants, which grew by 1,546 percent YoY. It was mainly because of the addition of 1,750 MW capacity from Rajasthan. AGEL attributed this to the new plants with technologically advanced solar modules (including bifacial modules and horizontal single-axis trackers) and wind turbines, high plant and grid availability, and improved solar irradiation.