Adani Green Energy Ltd has made an exciting announcement that is sure to impact the renewable energy landscape in India. Their fully-owned subsidiary, Adani Renewable Energy Holding Twelve Ltd, has secured a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) for a significant solar power project. This agreement, finalized on March 27, 2025, involves the provision of 400 MW of solar energy from planned projects in Rajasthan, with a competitive tariff of Rs 2.57 per kWh over a 25-year period.
Major Milestone for Adani Green Energy
In an official regulatory statement, Adani confirmed that its subsidiary will be developing solar photovoltaic (PV) power projects to fulfill this contract. The announcement highlights the company’s commitment to expanding its renewable energy portfolio while reinforcing its strategic partnership with UPPCL. Notably, Adani clarified that neither the company’s promoters nor their group have any vested interests in UPPCL, ensuring transparency in the deal.
- Project Details:
- Capacity: 400 MW
- Location: Rajasthan
- Tariff: Rs 2.57/kWh
- Duration: 25 years
Strong Financial Performance
Earlier this year, in January, Adani Green Energy reported impressive fiscal third-quarter results, showcasing an 85% increase in profits. The company’s earnings for Q3 reached Rs 474 crore, a substantial rise from Rs 256 crore during the same period last year. Additionally, revenue from operations saw a 2.3% growth, totaling Rs 2,365 crore, up from Rs 2,311 crore a year earlier.
Market Reaction
As of 1:00 PM, shares of Adani Green Energy experienced a slight dip, trading down by 0.05% at Rs 959.15. Despite this minor fluctuation, the company’s strong financial performance and new project acquisition signal a promising future in the renewable energy sector.
This strategic move not only underscores Adani Green Energy’s growth trajectory but also reinforces the company’s role in advancing India’s commitment to sustainable energy solutions. For more updates on renewable energy initiatives and market trends, stay connected with us!
