About Adani Green Energy Limited (AGEL)

Adani Green Energy Limited (AGEL) is a renewable energy company incorporated in 2015 and headquartered in Ahmedabad, India. It develops, owns and operates utility-scale, grid-connected solar, wind and hybrid power plants, and has expanded into energy storage through hydro pumped storage projects and battery energy storage systems. As of March 31, 2025, AGEL had 14,243 MW of operational capacity spread across 12 resource-rich Indian states, making it India’s largest renewable portfolio, with a target to achieve 50 GW by 2030. Landmark projects include the 648 MW Kamuthi solar plant in Tamil Nadu, a 2.1 GW hybrid renewable cluster in Rajasthan, and the 30 GW Khavda project in Gujarat under development.

The company emphasizes advanced technologies (bifacial/n-type modules, larger wind turbines, waterless robotic cleaning) and analytics-driven operations via its Energy Network Operation Centre. Its core portfolio comprises renewable power generation and the sale of solar equipment, along with infrastructure usage and project management consultancy services.

Adani Green Energy Limited’s Business Segments

• Operating divisions: AGEL reports two segments—Renewable power generation and other related ancillary activities; and Sale of goods/equipment and related services. In FY 2024–25, revenue from operations was 9,660 crore from renewable power generation and 2,888 crore from sale of goods/equipment (eliminations of 1,336 crore; total 11,211 crore).
• Industries served: The company supplies power under long-term utility PPAs and to commercial and industrial customers, with FY 2024–25 contract mix indicating 71% 25-year fixed-tariff PPAs, 13% merchant, and 16% merchant/C&I/CFD/mid-duration hybrid. During FY 2024–25, 20,483 million units were generated for PPA obligations, 2,213 million units were sold on a merchant basis, and 5,274 million units were under PPA but temporarily sold on merchant basis.
• Revenue by Industry Vertical: On a consolidated basis for FY 2024–25, revenue from power supply was 9,495 crore, while sale of goods/equipment and related services contributed 1,552 crore.

Adani Green Energy Limited Key Management

• Vneet S. Jaain, Managing Director: Leads overall strategy and execution; previously also served as Chief Executive Officer.
• Ashish Khanna, Chief Executive Officer (w.e.f. April 1, 2025): Oversees business operations and performance.
• Saurabh Nikhil Shah, Chief Financial Officer (w.e.f. October 1, 2024): Responsible for financial management and capital planning.

Latest Updates on Adani Green Energy Limited (AGEL)

• In FY 2024–25, operational capacity rose 30% year-on-year to 14,243 MW, with 3.3 GW added; sale of energy grew 28% to 27,969 million units. 
• AGEL signed a 25-year PPA with Maharashtra State Electricity Distribution Company Limited to supply 5 GW of solar power and executed its first C&I agreement to supply 61 MW of renewable energy to power Google’s data center. 
• The company completed a joint venture with TotalEnergies for a 1,150 MW portfolio, receiving an investment of USD 444 million; it also fully redeemed a USD 750 million holdco bond and refinanced a USD 1.06 billion construction facility with a 19-year amortizing structure. 
• All operational sites achieved “Water Positive” status, and AGEL reported industry-leading EBITDA margin from power supply of 91.7%, with revenue from operations of 11,212 crore and net profit of 2,001 crore on a consolidated basis.