Adani Green Energy subsidiary wins LoA for setting up a 450 MW wind power project

Adani Renewable Energy Holding Fifteen, a wholly-owned subsidiary of Adani Green Energy had participated in a tender issued by Solar Energy Corporate of India and secured the Letter of Award (LOA) for setting up a 450 mega-watt wind power project.

Adani Renewable Energy Holding Fifteen, a wholly-owned subsidiary of Adani Green Energy (AGEL) had participated in a tender issued by Solar Energy Corporate of India (SECI) for setting up 1,200 MW (mega-watt) ISTS-connected wind power project (Tranche-XI) and has received the Letter of Award (LOA) to set up 450 MW wind power project under this tender. The fixed tariff for this project capacity is Rs 2.70/ kWh (kilowatt-hour) for a period of 25 years.

With this, AGEL now has a total renewable energy project portfolio of 20,284 microwave active compositions (MWac) capacity, out of which 5,410 MWac projects are operational, 5,724 MWac projects are under construction and 9,150 MWac projects are near construction.

The company's consolidated net profit soared 995% to Rs 219 crore on a 34% jump in net sales to Rs 970 crore in Q1 FY22 over Q1 FY21.

Shares of Adani Green Energy lost 0.55% to Rs 1,192 on BSE. 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. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

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