Page 13 - Adani Green Energy

AESL commissions green evacuation transmission project in Tamil Nadu

Adani Energy Solutions Ltd has commissioned a 2500 MW green evacuation 400kV system in Tamil Nadu in line with India's decarbonisation efforts

TotalEnergies representative Ahlem Friga-Noy on Adani Green board resigns

Adani Green Energy Ltd (AGEL) on Friday said Ahlem Friga-Noy, a nominee director representing TotalEnergies on the board of the company, has tendered her resignation. TotalEnergies has nominated a new nominee director in place of Ahlem Friga-Noy, AGEL said in a regulatory filing. "Ahlem Friga-Noy nominee Director (representing TotalEnergies) on the board of the company has submitted her resignation with effect from October 23, 2023. Total Energies has nominated a new nominee director in place of Ahlem Friga-Noy," it said. The proposal for the appointment of a new nominee director shall be placed before the nomination and remuneration committee and Board of the company, in due course, the filing said without sharing any further detail. In September, Adani Green Energy Limited (AGEL) and TotalEnergies entered into a binding agreement to create a new JV, equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio.

Adani Energy Solutions commissions 765 KV Warora-Kurnool Transmission line

Warora-Kurnool Transmission is the largest 765 kV D/C (hexa conductor) TBCB (tariff-based competitive bidding) project ever awarded under a single scheme

Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%

Move comes a week after IHC sold its stake in Adani Green and Adani Transmission

Easing yields, oil prices lift Sensex 320 pts; Pharma stocks steal the show

Closing Bell on September 29, 2023: The Nifty50, on the other hand, gained 115 points to shut shop at 19.638. Sectorally, the Nifty Pharma index jumped the most, up 2.7 per cent

Adani partnership remains steadfast: IHC on Adani units' stake sale

IHC said that it continually strives to enhance shareholder value and additional information about the transaction will be included in its quarterly financial disclosure

IHC to sell stake in Adani units as part of portfolio rebalancing strategy

It did not disclose the name of the buyer or the extent of the investment it was selling. Adani Green Energy and Adani Energy Solutions did not immediately reply to Reuters requests for comment

TotalEnergies close to investing $300 million in JV with Adani Green Energy

TotalEnergies holds a 19.75 per cent stake in Adani Green Energy and is the second largest shareholder after the promoters, who control about 56.27 per cent

TotalEnergies in talks to invest in Adani Green's projects: Report

The deal would increase Total's presence in the fast-growing Indian energy market, while giving Adani Green more means to develop new renewable energy projects

What is OCCRP that has levelled allegations against Adani and Vedanta?

A report published by OCCRP has accused Adani Group of routing investments in its publicly traded stocks through "opaque" Mauritius funds. But what is OCCRP, and why is it accusing the Adani Group

Adani group Ebitda grows 42% in first quarter, reaches Rs 23,532 crore

Billionaire Gautam Adani's conglomerate clocked a 42 per cent year-on-year growth in pre-tax profit, as businesses ranging from airports to power and sea ports registered impressive growth, the group said on Wednesday. All-time high EBITDA of Rs 23,532 crore in April-June was almost equal to the full-year FY19 (April 2018 to March 2019 fiscal year) EBITDA of Rs 24,780 crore, Adani group said in a statement. The conglomerate that spans 10 listed companies ranging from flagship incubator Adani Enterprises Ltd to ports business (Adani Ports & SEZ Ltd), renewable unit (Adani Green Energy Ltd), power utility (Adani Power Ltd), electricity transmission firm (Adani Energy Solutions), and city gas business (Adani Total Gas Ltd), had a net debt of Rs 18,689.7 crore after accounting for a cash balance of Rs 42,115 crore. Core infrastructure and utility platform, which generates stable and assured cash flows, generated EBITDA of Rs 20,233 crore, accounting for 86 per cent of the total ...

BSE, NSE fines Rs 2 lakh each on Adani Green Energy for non-compliance

Adani Green Energy on Tuesday said BSE and National Stock Exchange have imposed a fine of Rs 2.24 lakh each on the company for certain non-compliance. The fines have been imposed "for non-compliance with the requirements pertaining to the composition of the Board, including failure to appoint a woman director", the company stated in an exchange filing. "BSE Ltd and the National Stock Exchange of India Ltd have, vide their letter dated August 21, 2023 (received by us at 8.00 pm and 9.00 pm, respectively), imposed a fine of Rs. 2,24,200 each on the Company...for certain non-compliance," the filing said. Adani Green Energy said that the non-compliance has occurred due to untimely demise of a women director and the exit of an independent director. Since then, the company has been running an extensive process of identifying potential independent directors who can fill these vacancies and is in advanced stage of discussions / finalisation. The company remains committed to ensuring optim

Adani Green Energy targets 45 gigawatts of renewable energy by 2030

Billionaire Gautam Adani's renewable energy company is targeting to set up 45 gigawatts (GW) of renewable energy capacity by 2030, as it looks to cut emissions and help India meet its carbon neutrality target. Adani Green Energy Ltd has 8,316 megawatts (8.3 GW) of operational renewable energy capacity and another 12,118 MW either nearing construction or under execution, sources close to the company said. The target is to take this 20,434 MW (operational plus under execution projects) to 45,000 MW or 45 GW by 2030, they said, adding AGEL is looking to build roughly 3 GW of capacity to generate electricity from solar and wind energy every year. French energy giant TotalEnergies holds a 19.7 per cent stake in AGEL. Recently US investment firm GQG Partners picked a 6.8 per cent stake in the company and Qatar Investment Authority (QIA) another 2.8 per cent. AGEL has a clear sight of how it will fund the renewable capacity addition, they said without giving details. The capacity AGEL is

Adani group stocks fall as Deloitte resigns as auditor for Adani Ports

Shares of Adani group stocks fell on Monday after Deloitte resigned as auditor of the Adani group's port company. Deloitte has resigned as auditor of the Adani group's port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a US short seller. Shares of Adani Enterprises tanked 5.41 per cent, Adani Transmission fell by 4.77 per cent, Adani Power declined by 4.23 per cent, Ambuja Cements dived 4 per cent and Adani Ports skidded 3.70 per cent on the BSE. The stock of Adani Green Energy declined by 3.22 per cent, Adani Wilmar (3.14 per cent), Adani Total Gas (3 per cent), NDTV (3 per cent) and ACC (2.23 per cent). In the equity market, the 30-share BSE Sensex quoted 335.61 points down at 64,987.04. The resignation came weeks after Deloitte raised concern over certain transactions flagged in the report of Hindenburg Research. In a statement, Adani Ports & Special Economic Zone ...

Qatar fund buys 2.7% stake in Adani Green for Rs 3,920 cr via block deals

This investment comes hot on the heels of reports that the same fund is considering the acquisition of a one per cent stake in Reliance Retail Venture

QIA likely picked up shares worth $500 million in Adani Green: Report

BENGALURU (Reuters) - Qatar Investment Authority (QIA) likely picked up shares worth $500 million in India's Adani Green Energy via block deals on Monday

Adani Green tanks 12% after nearly 3% equity change hands via block deal

At 09:15 AM; around 44.24 million shares representing 2.8 per cent of total equity of AGEL changed hands on the BSE, the exchange data shows.

AESL bets on energy solutions in pivot as distribution policies lag

The retail connect vertical will comprise existing distribution, smart metering, cooling systems, parallel distribution licenses, and energy solutions

Adani Green Energy Q1FY24 results: Net profit jumps 50% to Rs 322 crore

The cash profit was up 55 per cent to Rs 1,051 crore from Rs 680 crore in the June quarter last year

Adani raises $1.4 bn from stake sale in 3 firms; $9 bn raised in 4 years

Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio companies have also received board approval