Adani Green shares: AGEL in focus as arm starts 139 MW solar project in Gujarat

Adani Green Energy Ltd (AGEL) shares are in focus on Wednesday morning after Adani Green Energy Twenty Six A Limited,  a wholly-owned stepdown subsidiary, operationalised solar power project of 139 MW at Khavda, Gujarat. With operationalisation of the project, Adani Green has achieved a total operational renewable generation capacity of 20,280.80 MW and a total operational BESS capacity of 3,551 MWh.

"Based on the relevant clearances, it was decided at 2.05 p.m. on September 01, 2026 to commercially operationalise this plant," Adani Green said in a brief release to stock exchanges.

The 12-month Bloomberg consensus target price for Adani Green Energy now stands at Rs 1,570.45, implying 24 per cent potential upside over Tuesday's closing price of Rs 1,265 apiece. The stock has 10 'Buy' recommendations and one 'Sell' call.

The stock was in news last month after Adani Green informed the stock exchanges that the US Department of Justice (DOJ) has dropped charges against Gautam S Adani, Sagar R Adani and Vneet S Jaain in the indictment. Adani Green said the US DOJ had filed a motion seeking dismissal with prejudice of the charges in the indictment against Gautam Adani, Sagar Adani, Vneet Jaain and other defendants. A dismissal with prejudice means the charges are permanently dismissed and the case cannot be reopened or refiled based on the same allegations.

"The US DOJ further reviewed the charges and decided in its prosecutorial discretion to dismiss this case. In view of the same, US Eastern District NY Court has dismissed the indictment against Mr. Gautam S. Adani, Mr. Sagar R. Adani, Vneet S. Jaain with prejudice pursuant to its order dated August 10, 2026," Adani Green said.

To recall, a criminal indictment was filed before the United States District Court for the Eastern District of New York by the DOJ, following which Gautam Adani and others were charged with alleged securities fraud conspiracy, alleged wire fraud conspiracy, and alleged securities fraud.