Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel

• Adani Green Energy, a renewable energy company under Adani Group has entered the list of top 10 most valuable firms in terms of market capitalisation.
• Shares of the company have more than doubled investors' money in just three months of 2022.
• Billionaire and largest promoter of the firm Gautam Adani’s net worth also got a big boost due to this to become the sixth richest person in the world.

Gautam Adani’s renewable energy firm, Adani Green Energy, has stolen the investor limelight with its sharp rally in shares leading it to enter the list of India’s most valuable companies.

Adani Green Energy has more than doubled investors' money in 2022 so far i.e., in just three months. This exceptional performance has boosted more rally for the stock that spiked 27% in the last five trading days.

Not only investors, billionaire and largest promoter of the firm Gautam Adani’s net worth also went up because of this to become sixth largest richest person in the world. He has surpassed Oracle’s Larry Ellison and Google’s Sergey Brin and Larry Page to reach the spot.

The renewable company’s stellar rise in share price has brought it into the top 10 club of highest valued companies in the listed space. Adani Green Energy ranks ninth in the list of top 10 companies, as of April 13. The seven year-old company is now bigger than even large firms like HDFC, Bajaj Finance, Bharti Airtel, ITC, Wipro, L&T and many more.

Also, it is the first non-Nifty 50 company that is part of the top 10 club.
*As of April 13, 2022

Besides, in recent times, investors have been filled with awe for companies under the clean and renewable energy space. Adding to it, Adani Group has a target of turning a net carbon zero economy by 2070.

As a result, Abu Dhabi-based International Holding Company has said to invest $2 billion as primary capital in three Adani portfolio companies – Adani Green Energy, Adani Transmission, and Adani Enterprises helping the Group’s mission to become carbon free.

Besides, the Indian government has also increased focus towards renewable energy and made a target of achieving 500 gigawatts of installed power capacity from non-fossil sources by 2030 and becoming net zero by 2070.

Adani Green Energy is an Indian renewable energy company headquartered in Ahmedabad, Gujarat, which has a mix of solar, wind and hybrid power projects across the country.

It is said to be one of the largest renewable companies in India, with a current project portfolio of 20,284 megawatt. It develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Further, the company supplied the electricity generated from the projects to central and state government entities and government-backed corporations.

Adani Green Energy made a profit of ₹183 crore in FY21 after making a loss in the preceding two years.

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