Adani Solar

Adani Solar ships 15k MW solar modules, boosting India's clean energy push

Adani Solar has crossed a major milestone by shipping over 15,000 megawatts (MW) of solar modules across domestic and international markets - becoming the first and fastest Indian manufacturer to achieve this feat. Of the total shipments, 10,000 MW were deployed within India and 5,000 MW exported abroad, equivalent to 28 million modules covering nearly 7,500 football fields, officials said. Around 70 per cent of these modules were produced using Adani's India-made solar cells, reinforcing the company's role in advancing the Make in India and Atmanirbhar Bharat initiatives. Adani Solar plans to more than double its production capacity from 4,000 MW to 10,000 MW by the next financial year and aims to ship another 15,000 MW in the coming years. The company is the only Indian manufacturer listed among the world's top 10 solar module producers by research firm Wood Mackenzie. Wood Mackenzie, in a report last week, said India's solar module manufacturing capacity is on track to surpass

Adani Green Energy's operational renewable capacity rises 45% to 15,816 MW

Adani Green Energy Ltd on Friday said its operational renewable energy generation capacity rose 45 per cent to 15,816 MW during June quarter as compared to the year-ago period. It had an operational RE capacity of 10,934 MW in April-June 2024, a regulatory filing said. The 15,816 MW RE capacity includes 11,156 MW solar, 1,986 MW wind and 2,674 MW hybrid renewables. The sale of renewable energy rose 42 per cent to 10,479 million units (MUs) in the quarter from 7,356 MUs in the same period a year ago. The company has already met the 31 per cent or 6,138 MUs of its total committed generation of 19,667 MW (annual commitment as per power purchase agreements) in June quarter only. It operationalised 3,763 MW of solar, 585 MW wind and 534 MW hybrid renewable capacity and added greenfield RE capacity of 1.6 GW in the quarter. The company is aiming 50 GW renewable portfolio by 2030.

Adani may invest ₹6K cr in cooling solutions biz, set up unit at Mundra

Adani Energy Solutions plans a Rs 5,000-6,000 crore investment in centralised cooling, setting up India's largest unit at Mundra with Cooling-as-a-Service model

Adani Energy Solutions bags ₹1,600 cr transmission project in Maharashtra

The project will evacuate 1.5 GW of green power from Raigad and boost AESL's network capacity to over 93,000 MVA and 26,000 circuit kilometres

'Adani scam cannot be covered up': Congress after SECI CMD sacked

With the government sacking R P Gupta as the Chairman and Managing Director of Solar Energy Corporation of India, the Congress on Monday sought to link it to charges against billionaire Gautam Adani and his associates by US authorities and said the Adani "scam" cannot be covered up. Congress general secretary in-charge communications Jairam Ramesh said the public sector Solar Energy Corporation of India (SECI) was indicted on November 20, 2024, by US authorities in the chargesheet against Gautam Adani and his close associates. "It was based on SECI's recommendation that different states entered into purchase agreements with Adani. Bribes worth Rs 2,029 crores were then reportedly offered and promised to Indian government officials in exchange for these agreements, which were then finalised," Ramesh said. In an implicit admission of corruption, in December 2024, SECI changed the way it issues power tenders, he said. "Now the CMD of SECI, occupied by a post-retirement bureaucrat ...

Adani Group shares in focus; Power, Green, Energy Solutions gain up to 12%

Shares of Adani Power, Adani Green Energy, Adani Energy Solutions, Adani Total Gas and Adani Enterprises have rallied between 5 per cent and 12 per cent, so far today

Adani's solar contract has lower tariff, can find new buyer: Analysts

Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. "If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs). These operational projects are running under 5 special purpose vehicles, namely Adani Green Energy Twenty Four A Ltd

Andhra Pradesh govt may rethink Adani's solar deal amid bribery allegations

According to reports, Andhra Pradesh CM N Chandrababu Naidu is personally reviewing the situation and is expected to discuss the matter with his cabinet on Tuesday

Adani solar project misses deadline, delays power supply to Andhra Pradesh

Adani Green Energy's solar project delays leave Andhra Pradesh waiting for power. The state is likely to receive only 1,000 MW by April 2025, much below the initial schedule of 3,000 MW

Adani bribery allegations highlight India's renewable energy struggles

SECI's chairman told Reuters last month that a three-fold increase in tendering of renewable projects has left 30 GW of projects for which bidding is complete, but without buyers

Leaders from 120 member countries to attend seventh session of ISA assembly

Leaders from 120 member and signatory countries will gather in New Delhi for the Seventh Session of the International Solar Alliance (ISA) Assembly, set to take place from November 3 to 6, 2024, at Bharat Mandapam.The curtain-raiser event, held on Wednesday, with representatives from 60 countries attending the event.Union Minister of New and Renewable Energy and President of the ISA Assembly, Pralhad Joshi, addressed the gathering, saying, "ISA has evolved into a key platform for global solar cooperation, now encompassing 120 Member & Signatory Countries. This growing commitment demonstrates solar energy's significant role in addressing our shared energy access challenges and the adverse effects of climate change."He added, "The progress made by ISA's Member Countries in adopting solar energy is remarkable. Solar energy, available year-round and in abundance in some of our Member Countries, holds the potential to be the game-changer in the theatre of global climate action. Its ..

Borosil urges govt on imposing anti-dumping duty on Chinese solar glass

Leading glass maker Borosil has urged the government to impose anti-dumping duty on Chinese solar glass to provide a level playing field to the domestic players, else the Indian industry will "die". Chinese makers are exporting solar glass into India at a price which is "much below" their cost of production, alleged Borosil Renewables Vice Chairman Shreevar Kheruka. These glasses are mainly used in the manufacturing of solar panels and are crucial for India's quest for growth in renewable energy. Painting a grim picture of the industry due to the alleged dumping, Borosil Renewables Vice Chairman Shreevar Kheruka said that the price at which the Chinese are selling their solar glasses in India is even lower than the prices of raw material, power and fuel expenses. The cost of Chinese solar glasses is heavily subsidised by their government and that ranges between 35 to 55 per cent of the cost of the product, Kheruka claimed. If the Indian government does not impose anti-dumping duty

Adani Group stocks in focus; Energy Solutions, AEL rally up to 6%

Shares of Adani Energy Solutions, Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar and Ambuja Cements were up in the range of 2 to 6 per cent.

Adani group Ebitda surges 33% in Q1, leverage at 2.2x at multi-year low

Billionaire Gautam Adani's ports-to-energy conglomerate saw June quarter pre-tax profit surge by 33 per cent on back of strong performance by core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. "EBITDA (in April-June) surged by 32.87 per cent year-on-year to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year," the group said in a statement. Group net profit jumped over 50 per cent to Rs 10,279 crore in April-June - the first quarter of the current 2024-25 fiscal year. "The consistently advancing EBITDA is largely driven by the Group's highly stable and resilient 'core infrastructure' platform, which constitutes over 80 per cent of the portfolio EBITDA and saw a remarkable 41.6 per cent growth year-on-year in Q1," it said. The core infrastructure platform comprises flagship Adani Enterprises Ltd's ...

We are well positioned to capitalise on country's infra spending: Adani

The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on India's infrastructure spending

Adani Solar to expand business base in Kerala, sees huge potential in state

Adani Solar on Friday said it will be expanding its business in Kerala as the southern state has huge potential in the solar energy market. As part of its expansion plans, the company, which is the solar PV manufacturing arm of Adani Group, signed an MoU with Kochi-based Almiya group, a reputed solar distributor, as its official partner in the state. Adani Solar said it will be installing a 225 MW solar power plant in Purapura in one year and has set up a warehouse in Coimbatore for faster delivery of the panels in Kerala and Tamil Nadu. "We are expanding our business in Kerala. In 2023 alone we could establish solar panels for 70 MW in Kerala. Kerala has a huge potential in the solar energy market and Adani Group has very big plans for Kerala," Cecil Augustine, National Sales Head of Adani Solar said at a press conference here. He claimed that the solar panels, which are completely made in India, are of superior quality compared with any others in the market in Asia and they have

Adani Energy Solutions' Q4 result: Net profit declines 13% to Rs 381 cr

Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses. Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company said in an exchange filing. For the whole Financial Year (FY) 24, the company reported a net profit of Rs 1195.61 crore, down from Rs 1280.60 crore in FY 23. During the fourth quarter, the company's total income surged to Rs 4,855.18 crore from Rs 3,494.84 crore a year ago. The income in FY 24 was at Rs 17,218.31 crore as against Rs 13,840.46 crore in FY 23. The expenses were Rs 4,358.83 crore in the period under review, as against Rs 3,200.50 crore in the year-ago period. In FY 24, the expenses rose to Rs 14,978.74 crore from Rs 13,164.32 crore in the preceding financial year. In a separate statement, the company said its revenues witnessed a double-digit growth

Several of Adani's dollar bonds fell most in over six months on US probe

US investigators are digging into whether an Adani entity, or people linked to company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project

Rooftop solar power systems: Shinning a light on better tomorrow

With an outlay of Rs 75,000 cr, it's aimed at installing rooftop solar panels in 10 million households

PM Suryodaya Yojana will help in self-sufficiency in country's energy needs

Adani Solar took up to build the world's first fully integrated 10 GW solar manufacturing ecosystem in Mundra SEZ in Gujarat by 2027