Adani Green bags LoA for 150 MW solar power project

Adani Green Energy on Tuesday announced that it received the Letter of Award (LoA) to set-up 150 MW solar power project from Punjab State Power Corporation.

In an exchange filing, Adani Green said, Adani Renewable Energy Holding Fifteen, a wholly-owned subsidiary of Adani Green Energy participated in a tender issued by Punjab State Power Corporation for procurement of 250 MW solar power from ground mounted grid connected solar PV power plants and has received the Letter of Award (LoA) to set-up 150 MW solar power project.

The fixed tariff for the project capacity is Rs. 2.34/ kWh for a period of 25 years.

With this, Adani Green Energy now has a total renewable energy project portfolio of 20,434 MWac capacity, out of which 5,410 MWac projects are operational, 11,591 MWac projects are under construction and 3,433 MWac projects are near construction.

Adani Green Energy has one of the largest global renewable portfolios with 19.8 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties.

On a consolidated basis, the company reported a 12% rise in net profit to Rs 49 crore on a 92.5% jump in net sales to Rs 1,391 crore in Q3 FY22 over Q3 FY21.

Shares of Adani Green ended 4.35% lower at Rs 1839.10 on Monday. The domestic stock market was shut yesterday, 1 March 2022, on account of Mahashivratri.

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