Adani Green stock jumps 5% in 2 sessions as new projects lift capacity to 16,679 MW

Shares of Adani Green Energy Ltd rose as much as 5 per cent in two sessions to hit Friday’s high of Rs 1,078.85 on the BSE against its Tuesday’s close of Rs 1,026.80 after the company announced operationalisation and commissioning of new renewable energy projects in Gujarat.

In a filing to the exchanges, Adani Green Energy Ltd (AGEL) said that through its stepdown subsidiaries, it has operationalised an aggregate of 112.5 MW of renewable power projects at Khavda, Gujarat. The projects include an 87.5 MW solar facility under Adani Renewable Energy Fifty Six Ltd and a 25 MW hybrid plant under Adani Green Energy Twenty Five B Ltd. With this, AGEL’s total operational renewable generation capacity has climbed to 16,598.6 MW.

In a separate disclosure on October 1, after market hours, the company said that Adani Hybrid Energy Jaisalmer Five Ltd, a wholly-owned stepdown subsidiary, has commissioned an additional 50 MW solar project and a 31.2 MW wind project at Khavda. This took AGEL’s total operational renewable capacity further up to 16,679.8 MW.

The company noted that the projects were cleared and began generating power from September 30 and October 1, respectively. “With commissioning of these plants, AGEL’s operational capacity has scaled new highs,” the filing said.

On Friday, Adani Green shares rose 0.36 per cent to Rs 1,068.55 by 10:54 am, lifting the company's market capitalization to Rs 1.70 lakh crore.

The Khavda renewable energy park in Gujarat is one of the world’s largest clean energy clusters under development, and Adani Green has been ramping up its commissioning activity in phases.