New Delhi, Adani Solar Energy Kutchh One Limited, a step-down subsidiary of <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> Energy Limited (AGEL) has commissioned 150 MW solar power <keyword id="6355739" type="UNKNOWN" weightage="20" keywordseo="Project">project</keyword>. In a regulatory filing, Adani Green said that despite all the challenges of global pandemic Covid-19, unprecedented rain and flood in Kutchh, Gujarat, the company's team of experts made it possible to commission the project three months prior to its scheduled commissioning date. This plant has a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL's total operational renewable capacity grows to 3,125 MW. "The plant will be connected to our state-of-the-art Energy Network Operation Centre (ENOC) that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India," it said. With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects. Speaking on this development, Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword> said: "This is third solar plant commissioned by AGEL over a span of less than a month." "The trend demonstrates our sharp focus on timely project delivery and our long-term vision to achieve renewable capacity of 25 GW by 2025. It also reinforces AGEL's commitment to lead India's transition towards a greener future through a strategic approach and operational excellence," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Adani Green Energy arm commissions 150-MW solar power plant at Kutch, third in a month

<keyword id="4543956" type="PERSON" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword> (AGEL) on Saturday announced that it has signed a share purchase agreement for acquisition of 100 per cent stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global. The project is located in Telangana and was commissioned in October 2017 and has a long-term <keyword id="511035" type="COMPANY" weightage="20" keywordseo="power-purchase-agreement">Power Purchase Agreement</keyword> (PPA) with the Southern Power Distribution Company in the state. With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions. Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword>, said: "Strengthening our portfolio through organic and inorganic growth opportunities is in integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Limited (AGEL) is part of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, and has one of the largest global renewable portfolios with 14.9 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/easemytrip-ipo-listing-price-at-13-5-premium/articleshow/81581828.cms">EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-specs-oneplus-9e-specs-and-price-leak-and-oneplus-9-series-launch-date/articleshow/81168227.cms">OnePlus 9 series specifications and features leaked – here's everything we know about the upcoming OnePlus smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-review-of-moto-g10-power-mobile-phone-review-and-features-information/articleshow/81583548.cms">Moto G10 Power mobile review – big battery on a shoestring budget</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a>

Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global

<keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Wednesday announced that it has signed a share purchase agreement for the acquisition of 100 per cent stake in two <keyword id="732527" type="ORGANIZATION" weightage="20" keywordseo="Special-Purpose-Vehicles">special purpose vehicles</keyword> (SPV) holding 74.94 MW operating solar projects of Sterling &amp; Wilson, a Shapoorji Pallonji group company. The projects, commissioned in 2017, are located in <keyword id="464266" type="LOCATION" weightage="20" keywordseo="Medak-district">Medak District</keyword> of Telangana and have long-term <keyword id="788744" type="COMPANY" weightage="20" keywordseo="power-purchase-agreements">Power Purchase Agreements</keyword> (PPA) with the Southern Power Distribution Company of Telangana Limited. The enterprise valuation of the target SPV is Rs 446 crore. With this acquisition, AGEL will increase its operating renewable capacity to 3,470 MW with a total renewable portfolio of 15,240 MW, <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> said in a statement. The closing of the transaction is subject to customary approvals and condition, it added. Vneet S. Jaain, MD &amp; CEO, <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Ltd said: "Strengthening our portfolio through organic and inorganic growth opportunities is an integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/peter-thiel-backed-vc-firm-valar-ventures-invests-in-indian-fintech-startup-velocity/articleshow/81663073.cms">Peter Thiel-backed VC firm Valar Ventures invests in Indian fintech startup Velocity</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% below the issue price</a> <a href="https://www.businessinsider.in/business/startups/news/inshorts-backed-social-networking-app-public-raises-300-crore-in-latest-funding/articleshow/81663873.cms">Inshorts-backed social networking app Public raises ₹300 crore in latest funding</a>

Adani Green boosts its renewable energy capacity with acquisition of 74.94 MW projects from Sterling & Wilson

<ul><li>France-based <keyword id="11344358" type="General" weightage="100" keywordseo="totalenergies" source="Orion">TotalEnergies</keyword> could be considering booking profits and recouping some of its investment in <keyword id="4343578" type="General" weightage="80" keywordseo="adani-green" source="Orion">Adani Green</keyword>.</li><li>TotalEnergies had acquired a 20% stake in Adani Green last year for $2 billion, which is now worth $10 billion.</li><li>The company’s CEO mentioned in an interview that TotalEnergies remains committed to Adani Green, and that he believes the company’s balance sheet is “safe”, despite concerns of surging debt.</li></ul>Adani Green’s shares have rallied over 54% in 2022 so far, and that has tempted one of its major stakeholders, the France-based TotalEnergies, to book profits. At an analyst call, TotalEnergies’ CEO <keyword id="1408005" type="General" weightage="50" keywordseo="patrick-pouyanne" source="Orion">Patrick Pouyanne</keyword> announced that the rally in Adani Green is a “source of potential cash”, implying that the energy giant could reduce its stake and book profits while the stock is still up. <div type="image" title="Adani Green 01_01_22 to 29_09_22." msid="94529204" hostid="261" caption="&amp;lt;p&amp;gt;Adani Green share price in 2022 so far&amp;lt;/p&amp;gt;"></div> Pouyanne explained that TotalEnergies was committed to Adani Green and had no immediate plan to cut its holding in the company. However, if TotalEnergies decided to book some profits, the sale would be small and only to recoup some of its investments. It is worth noting that TotalEnergies picked up a 20% stake in Adani Green for $2 billion in 2021. That stake is now worth $10 billion – a handsome 5x surge in a little over a year. Adani Green’s shares have seen a strong bull run in 2022, and yet, it is only the sixth best performer out of the seven Adani Group companies (excluding the newly acquired Ambuja Cements and ACC). <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current price </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD performance </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹370 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">265.5% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹743 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">176.8% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,593 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">107.5% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,547 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">106.6% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,557 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">104% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,092 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54.7% </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹823 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.7% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, as on September 29, 2022 Adani Green’s 54% returns this year are after the stock fell 30% from its peak in April – and<a href="https://www.businessinsider.in/stock-market/news/adani-group-sheds-94000-crore-in-value-after-a-report-says-its-deeply-over-leveraged/articleshow/93728528.cms"> despite the growing concerns about the Adani Group being “over-leveraged”</a>, Pouyanne said the balance sheet of Adani Green is “safe”. Analysts at Ventura echoed similar sentiments, saying that the debt mix of the company has improved. “AGEL has improved its debt mix with the share of short-term debt in FY22 only at 17% v/s 83% earlier. Further, the total interest cost of the company has reduced from 11.1% in FY19 to 8.8% in FY22,” the brokerage firm said in its latest report. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="487585278"> $ADANIGREEN.NSE News - TotalEnergies said it could sell a small part of its 20% stake in Adani Green Energy Ltd. to cash in on the jump in the valuation of the Indian renewable energy producer. The French energy giant company bought 20% of Adani Green in 2021 for $2 billion, building on previous deals with Indian billionaire Gautam Adani. That stake was worth about $10 billion at the end of August, according to TotalEnergies. Adani Green’s shares are up 54% this year, compared to a 1.8% decline in the benchmark S&amp;P BSE Sensex Index in India. Still, Adani Green is down 15% so far this month amid concerns that it’s taking on too much debt as it expands and their other companies are also pledging the shares. The company’s balance sheet and fundamentals are strong per Balance Sheet available on MoneyControl!. FIS Conclusion on this news - We do not think this news will have any negative impact on the Adani Green stock and we remain positive on Adani groups stocks!! &mdash; (@Financialindependence) <a href="https://stocktwits.com/Financialindependence/message/487585278"> September 29, 2022</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/retail/news/jewellery-chains-are-growing-at-the-cost-of-standalone-jewellers-and-its-only-going-to-get-worse-says-world-gold-council-report/articleshow/94510142.cms">Jewellery chains are growing at the cost of standalone jewellers – and it’s only going to get worse, says World Gold Council report</a> <a href="https://www.businessinsider.in/business/telecom/news/amid-concerns-of-jio-airtel-duopoly-analysts-suggest-new-telecom-bill-empowers-govt-to-maintain-competition/articleshow/94502923.cms">Amid concerns of Jio-Airtel duopoly, analysts suggest new telecom bill empowers govt to maintain competition</a> <a href="https://www.businessinsider.in/finance/news/rupee-headed-lower-as-rbi-intervention-unlikely-to-be-aggressive/articleshow/94473133.cms">Rupee headed lower as RBI intervention unlikely to be "aggressive"</a>

Adani Green’s 54% rally this year tempts TotalEnergies to book profits

<ul><li><keyword id="4543956" type="PERSON" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword> has won the first of its kind manufacturing linked <keyword id="9372379" type="UNKNOWN" weightage="20" keywordseo="solar-agreement">solar agreement</keyword> from the <keyword id="1937268" type="ORGANIZATION" weightage="20" keywordseo="Solar-Energy-Corporation-of-India">Solar Energy Corporation of India</keyword> (SECI) entailing an <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> of close to $6 billion.</li><li>As a part of the award, AGEL will develop 8 GW of solar projects along with a <keyword id="27052" type="ORGANIZATION" weightage="20" keywordseo="commitment">commitment</keyword> that will see <keyword id="7673775" type="PERSON" weightage="20" keywordseo="adani-solar">Adani Solar</keyword> establish 2 GW of additional solar cell and module manufacturing capacity. </li><li>It will also displace 900 million tonne of carbon dioxide over its lifetime, the statement added.</li></ul>Adani Green Energy Limited has won the first of its kind manufacturing linked solar agreement from the Solar Energy Corporation of India (SECI) entailing an investment of close to $6 billion. As a part of the award, AGEL will develop 8 GW of solar projects along with a commitment that will see Adani Solar establish 2 GW of additional solar cell and module manufacturing capacity. This award, the largest of its type, ever, in the world, will entail a single investment of Rs. 45,000 crores and will create 400,000 direct and indirect jobs, AGEL said in a statement. It will also displace 900 million tonne of carbon dioxide over its lifetime, the statement added. With this win, AGEL will now have 15 GW capacity under operation, construction or under contract. This will accelerate company's journey towards becoming the world's largest renewables company by 2025. The company is targeting an installed generation capacity of 25 GW of renewable power by 2025 with an investment of Rs 112,000 crores ($15 billion) in the renewable energy space over the next 5 years. Commenting on the win, <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, Chairman of the <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> said, "India made a commitment at the 2015 United Nations Climate Change Conference in Paris that it would lead the Climate Change revolution and today is the leader among the just eight nations on track to meet their COP21 commitments. The fact that renewable power will transition into becoming the world's cleanest and most economical fuel is a foregone conclusion and the Adani Group intends to play a leading role in this journey." "This award is yet another step in our nation's climate change promise to the world as well as enabling our nation's Atma Nirbhar Bharat Abhiyan (Self Reliant India Program). It is another step towards fulfilling our Groupa¿s Nation Building vision." Based on the award agreement the 8 GW of solar development projects will be implemented over the next five years. The first 2 GW of generation capacity will come online by 2022 and the subsequent 6 GW capacity will be added in 2 GW annual increments through 2025. The projects will include a variety of locations, including a 2 GW single-site generation project that is tied for the rank of the largest single-site project announced globally. The solar cell and module manufacturing capacity of 2 GW will be established by 2022 and along with the existing 1.3 GW of capacity will further consolidate the Group's position as India's largest solar manufacturing facility. Adani Green Energy Limited's business model of focusing on long-term contracts with investment grade counterparties, rapidly constructing large projects, and thereafter building solar development partnerships with major global integrated energy players that seek to reduce their carbon footprint has enabled it to expand rapidly since its public listing less than two years ago. This new contract will further help strengthen this model, the company statement said. Adani Group, is a diversified organization in India with a combined market cap of $22 billion comprising 6 publicly traded companies. AGEL, part of the diversified Adani Group, has 15GW of operating, in-construction and awarded wind and solar parks. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.

Adani Green wins world's largest solar award entailing $6bn investment

New Delhi, Feb 4 () Adani Green Energy Ltd (AGEL) on Tuesday reported widening of its consolidated net loss at Rs 128 crore during the quarter ended december 31, 2019.
 The company had posted a net loss of Rs 118 crore in the year-ago-quarter, AGEL said in a BSE filing.
 During the October-December period of the ongoing fiscal, the company said, its total income rose to Rs 523.20 crore, from Rs 470.94 crore a year ago.
 The total expenses were at Rs 618.10 crore in the period under review, as compared to Rs 613.24 crore in October-December quarter of the preceding fiscal.
 The Adani Group firm in a statement said, "interest and other borrowing cost for Q3 FY20 is Rs 290 crore as compared to Rs 277 crore on year-on-year basis. The group also refinanced its earlier borrowings through issuance of secured senior notes (USD denominated bonds) and rupee term loans from a bank and financial institutions".
 On account of such refinancing activities, the group has incurred one-time expenses aggregating to Rs 173 crore for nine month of FY20 out of which Rs 74 crore incurred during Q3 FY20.
 These expenses comprise of prepayment charges, unamortised portion of other borrowing cost related to earlier borrowings and cost of premature termination of derivative contracts.
 "We are committed to creating a greener future and our new initiative coming together to support the engagement and participation of the power sector," AGEL Chairman Gautam Adani said. ABI DRR

Adani Green's Q3 net loss widens to Rs 128 cr

<ul><li><keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> is now looking to buy a stake in the world’s biggest oil exporter <keyword id="152170" type="General" weightage="20" keywordseo="saudi-aramco" source="Orion">Saudi Aramco</keyword>.</li><li>The Adani Group has a range of businesses covering ports, power, renewable energy, airports, coal trading and data centres.</li><li>Saudi Aramco was looking to get a stake in Reliance Industries, but the talks fell through.</li></ul>A lot of investors were left disappointed after the deal between Mukesh Ambani-led Reliance Industries and oil biggie Saudi Aramco <a href="https://www.businessinsider.in/business/news/reliances-15-billion-deal-with-saudi-aramco-has-been-called-off/articleshow/87811630.cms">fell apart last November</a>. After all, the investors and shareholders had waited nearly two years for Saudi Aramco to invest $15 billion in India’s most valued business. Now, the word has it that the Adani Group has jumped into the bandwagon and is now looking to buy a stake in the world’s biggest oil exporter. According to a Bloomberg<a href="https://www.bloomberg.com/news/articles/2022-03-18/billionaire-adani-is-said-to-explore-partnerships-with-aramco"> report </a>citing sources it did not name, <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> willing to shell out billions of dollars to buy a stake in Saudi Aramco. Therefore, it may look at a broader tie-up or asset deal to acquire the said stake from Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF), as per the report. Adani’s infrastructure is a value-add The report suggests that the port-to-energy Adani Group may also offer PIF the opportunity to invest in its infrastructure in India. Anshuman Khanna, director at consultancy ValPro, highlighted that the Adani Group has built a unique infrastructure in India that can be leveraged to incubate world class businesses relevant to the “future” such as renewable energy, data centres, petrochemicals, natural gas infrastructure and hydrogen. “A deal with Adani could provide [Saudi] Aramco an opportunity to participate in the India growth story and diversify its portfolio from traditional oil and gas. It would be complementary to the multiple partnerships Adani group has nurtured over years with conglomerates such as Total, Wilmar and Indian Oil. Each partnership sustains on the premise that each partner is bringing a unique value proposition to the partnership and there is trust and transparency between the groups,” Khanna told Business Insider. The Adani Group has a range of businesses covering ports, power, renewable energy, airports, coal trading and data centres. Petrochemical to renewable energy — Adani has got it all Adani's existing businesses in renewable energy and its recent foray into petrochemicals could be worthwhile for Saudi Aramco. Last year, Adani Group had set up a<a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/adani-group-to-enter-petrochemicals-business-through-adani-petrochemicals-ltd/articleshow/84955834.cms"> new subsidiary </a>that will set up refineries, petrochemical complexes and hydrogen plants to directly compete with Reliance Industries, which is the biggest petrochemical business in the country and among the top 10 in the world. The company also plans to set up a ₹14,000 crore petrochemical plant for this. Khanna elaborated that Saudi Aramco would find a client in Adani’s petrochemical business. This is even more crucial since the world is moving towards more sustainable sources like solar energy, which means that the use of oil and gas in vehicles would be limited in the times to come. However, oil and gas usage in the petrochemicals industry will continue as it is. “This will help them a lot in terms of continuing to find a home for oil and gas,” he added. He noted that Saudi Aramco was looking to get a stake in Reliance Industries because of their petrochemical business, but that deal did not go through due to valuation difference. Adani Group is a good enough alternative to that in his opinion. Meanwhile, Suman Jagdev, partner of industrial goods and services at Praxis Global Alliance also pointed that the partnership with Saudi Aramco will help Adani too strengthen their business portfolio and “create a scale play across the oil and gas value chain”. “This would help increase cash flow and fuel growth. It may further open infrastructure investment opportunities in India by Saudi investors and strategics,” he added. Adani Green Energy Limited (AGEL) is currently among the largest renewable energy businesses in India in terms of market capitalisation, which further strengthens its future. According to Bloomberg Billionaires Index, Gautam Adani is <a href="https://www.bloomberg.com/billionaires/">Asia’s second richest person</a> with an estimated net worth of about $90.5 billion. He is the eleventh richest man in the world, after Tesla’s Elon Musk, Amazon’s Jeff Bezos, Microsoft’s Bill Gates, Reliance’s Mukesh Ambani and others. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-group-ioc-bpcl-hpcl-reliance-hdfc-and-other-hot-stocks-on-march-21/slidelist/90344098.cms">Adani group, IOC, BPCL, HPCL, Reliance, HDFC and other hot stocks on March 21</a> <a href="https://www.businessinsider.in/investment/news/india-is-working-on-crypto-classification-under-gst-law/articleshow/90344895.cms" data-type="tilCustomLink">India is working on crypto classification under GST law</a> <a href="https://www.businessinsider.in/investment/news/crypto-tax-in-india-kicks-in-from-april-heres-all-you-need-to-know/articleshow/90344479.cms">India’s cryptocurrency tax kicks in from April – here’s what investors need to know</a>

Even Saudi Aramco has a lot to gain from an investment from Gautam Adani

<ul><li>Shares of <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> Energy hit the upper circuit on March 22 even as the market was down by over 50 points.</li><li>The company’s shares have rallied upwards by over 67% since October 2020, and by over 700% in the last one year.</li><li>Adani Green Energy currently has a total renewal energy capacity of 15,165 megawatts.</li></ul>Adani Green Energy shares have resumed their upward journey after the company added two new renewable energy projects to its kitty. The two projects together add 350-megawatt to the company’s power generation capacity, taking the total capacity to 15,165 megawatts. Shares of Adani Green Energy were locked in the upper circuit at ₹1,252 per share, gaining ₹59.60 over the previous closing price. This translates to a gain of 5%. Upper circuit refers to the maximum price that a stock is allowed to move upward in a day. <div type="image" title="Adani Green Energy" msid="81627594" hostid="261" caption="&amp;lt;p&amp;gt;Adani Green Energy share price&amp;lt;/p&amp;gt;"></div> Adani Green Energy’s shares have jumped over 67% since October, 2020. While this rally is impressive, it pales in comparison to the steep 700% jump over the last one year. In the same time, the benchmark Nifty50 index rose by a mere 93%. <cmsannotation type="cmsannotation" annotationid="Why are shares of Adani Green Energy rallying?" comment="subhead" text="Why are shares of Adani Green Energy rallying?">Why are shares of Adani Green Energy rallying?</cmsannotation> Adani Green Energy has added a total of 350-megawatt renewable energy capacity recently. The first one was due to the <a href="https://www.businessinsider.in/business/news/adani-green-energy-to-acquire-50-mw-solar-asset-from-skypower-global/articleshow/81600875.cms">acquisition</a> of 100% stake in Toronto-based SkyPower Global’s 50-megawatt solar power project. Apart from this, the company also won a 300-megawatt wind power project from Solar Energy Corporation of India (SECI). The project term is 25 years and the price has been fixed at ₹2.77 per kilo-watt hour. Thanks to the addition of 350-megawatt projects, Adani Green Energy’s total renewable energy capacity now stands at 15,165 megawatts. Of this, projects of 3,395-megawatt capacity are already operational while the remaining 11,770-megawatt projects are under implementation, according to the company’s press release. According to a report by Macquarie Research, Adani Green Energy has more than tripled its operational capacity over the past four years – from a little under 1 gigawatts to nearly 3.4 gigawatts. The company has announced plans to boost this capacity to 6.3 gigawatts by financial year 2022, and to 25 gigawatts by financial year 2025. 1 gigawatt equals 1,000 megawatts. “Given the government’s ambitious target to reach 175GW of renewable capacity by 2022 and 400GW by 2030, AGEL (Adani Green Energy Ltd) is favourably placed to tap into this mega opportunity,” stated a report by Edelweiss Research, highlighting the favourable position of the company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/airtel-vodafone-idea-adani-green-and-other-stocks-to-watch-out-for-on-march-22/slidelist/81624721.cms">Airtel, Vodafone Idea, Adani Green and other stocks to watch out for on March 22</a> <a href="https://www.businessinsider.in/business/news/adani-green-energy-to-acquire-50-mw-solar-asset-from-skypower-global/articleshow/81600875.cms">Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global</a> <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-elon-musk-jeff-bezos-and-mukesh-ambani-in-2021-with-highest-increase-in-net-worth/shares-of-all-adani-group-companies-except-one-have-rallied-at-least-50-in-2021/videoshow/81467466.cms">Shares of all Adani group companies, except one, have rallied at least 50 per cent in 2021</a>

Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty

<ul><li>The solar and wind power generator has a portfolio of 5,290 megawatts and half of it is operational. In the last three quarters, the company achieved breakeven , and has been showing a steady growth in profits. </li><li>Most of its power sales in long-term contracts with low risk buyers like NTPC and Solar Energy Corporation. </li><li>The risk of construction is much lower in solar and wind projects due to shorter timelines and fewer technological challenges. </li></ul> <keyword id="3179546" type="PERSON" weightage="20" keywordseo="Adani-Green-Energy">Adani Green Energy</keyword> has not just beaten slowdown blues, but also became one of the best performing energy stocks of the year. Even amongst its <keyword id="1125083" type="PERSON" weightage="20" keywordseo="Adani-Group-stocks">Adani group stocks</keyword> which have mostly created value, it is the best performer as it appreciated by 229% during the year. 
 
 
 
 
 
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 The stock appreciation might have made up for Adani Power’s performance whose coal-based portfolio which is facing headwinds. Lighter debt, the company’s decision to divide risk of its green portfolio projects into special purpose vehicles cuts the debt risk of the company. Most of Adani group stocks with the exception of power generation appreciated-- even the transmission arm. But none could match the value appreciation that Green Energy generated especially since October. <table style="border-collapse:collapse;border:none;mso-border-alt:solid black .5pt; mso-border-themecolor:text1;mso-yfti-tbllook:1184;mso-padding-alt:0in 5.4pt 0in 5.4pt"> <tbody><tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> Group Company </td> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-left:none;mso-border-left-alt:solid black .5pt;mso-border-left-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Annual share price appreciation </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Gas </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> 49.5% </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Transmission </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> 70.5% </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Power </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> -24% </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Ports and Special Economic Zone </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> -2% </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Enterprises </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> 38.8% </td> </tr> <tr> <td style="border:solid black 1.0pt;mso-border-themecolor:text1; border-top:none;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor: text1;mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding: 0in 5.4pt 0in 5.4pt"> Adani Green Energy </td> <td style="border-top:none;border-left:none;border-bottom:solid black 1.0pt; mso-border-bottom-themecolor:text1;border-right:solid black 1.0pt;mso-border-right-themecolor: text1;mso-border-top-alt:solid black .5pt;mso-border-top-themecolor:text1; mso-border-left-alt:solid black .5pt;mso-border-left-themecolor:text1; mso-border-alt:solid black .5pt;mso-border-themecolor:text1;padding:0in 5.4pt 0in 5.4pt"> 229% </td> </tr> </tbody></table> The solar and wind power generator has a portfolio of 5,290 megawatts and half of it is operational. In the last three quarters, the company achieved breakeven , and has been showing a steady growth in profits. 
 
 
 
 
 
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 The risk of construction is much lower in solar and wind projects due to shorter timelines and fewer technological challenges. Moreso, there are a lot of takers for the green power it generates and has long-term sales agreements which provide it with revenue visibility. “AGEL has 62% of the operational and under construction capacity tied up with NTPC and Solar Energy Corporation of India. The balance 38% of the capacity is tied to moderate-to-high credit risk counterparties such as Tamil Nadu Generation and Distribution Corporation Limited, Karnataka State Electricity Board and others,” said a report by India Ratings.

The best Adani stock this year is also the most green one

<ul><li>SBI has cut the savings rate by 0.25% to 2.75% on all deposits. </li><li>The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages. </li><li>Investor wealth on Tuesday jumped ₹ 7,71,377 crore as markets bounced back.</li></ul>Following are the top business stories of April 7. India biggest producer of 'game-changer' hydroxychloroquine drug; has enough capacity India is the biggest manufacturer of hydroxychloroquine, the anti-malarial drug that is being touted as 'game-changer' in the fight against COVID-19 and is being aggressively sought by US President Donald Trump. WhatsApp to limit sharing of frequently forwarded messages to one chat at a time WhatsApp will allow users to send frequently forwarded messages to only one chat at a time as part of efforts to curb spreading of misinformation amid the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic. Sensex, Nifty log best single session ever tracking global peers Indian market gauges Sensex and Nifty logged their biggest one-day gains ever in absolute terms on Tuesday, tracking global peers amid signs that the Covid-19 pandemic may be peaking in some of the hard-hit countries. Indian economy likely to grow 2% in FY21: Icra Icra Ratings on Tuesday sharply cut the country's GDP forecast amid the COVID-19 crisis and expects the economy to grow at just 2 per cent in the current fiscal. Rupee surges 49 paise to end at 75.64 against dollar amid stocks rally The rupee on Tuesday surged by 49 paise to close at 75.64 against the US dollar, following a rally in stock markets. Insurance cos start offering exclusive COVID-19 policies, partnering with online payment firms Seeing business opportunity amid the spread of the coronavirus pandemic, insurance companies in the country have started offering policies specific to COVID-19 and some of them partnered with digital payment service providers to push sales of such plans, officials said on Tuesday. Remuneration paid to directors to attract GST: AAR Companies will have to pay GST on the remuneration they dole out to directors, the Authority for Advance Ruling (AAR) has said. Food insecurity, malnutrition, poverty may escalate in developing world says IFPRI Food insecurity, malnutrition and poverty may escalate, particularly among marginalised people in the developing world due to the rapid spread of coronavirus, a latest report by International Food Policy Research Institute (IFPRI) said on Tuesday. Plunging fuel demand has OMCs worried on all fronts National oil companies are staring at inventory losses as they have to bring down refinery throughputs because of the plunging demand for fuels following the nationwide lockdown to contain the deadly coronavirus infection. RBI relaxes overdraft facility norms for states, UTs The Reserve Bank on Tuesday relaxed norms for state governments to avail overdraft facilities for a longer period until September 30 as they are facing cashflow mismatches amid coronavirus outbreak leading to countrywide lockdown. IL&amp;FS case a 'blessing in disguise' to address corp governance issues: Official Describing the IL&amp;FS matter as a "watershed moment", Corporate Affairs Secretary Injeti Srinivas has said it was a blessing in disguise that forced the government to take the bull by its horns and address the difficult issue of corporate governance. French firm Total's arm invests ₹ 3.7K cr to form JV with Adani Group French energy firm Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary. Investor wealth jumps Rs 7.71 lakh cr as markets recover Investor wealth on Tuesday jumped ₹ 7,71,377 crore as markets bounced back after two days of fall, tracking a broad-based rally in global equities. Vodafone Idea users face connectivity issues Several subscribers of Vodafone Idea on Tuesday reported poor call and data connectivity issues. SBI cuts savings rate by 25 bps to 2.75% The country's largest lender SBI on Tuesday said it has cut the savings rate by 0.25% to 2.75% on all deposits. Allow liquor sale; illicit trade burden on exchequer: CIABC to 10 states The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages saying that a blanket ban during the lockdown to contain coronavirus has resulted in sale of illicit and spurious liquor while causing burden on exchequer. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

You Searched For "agel" and got 10 results

Adani Green Energy arm commissions 150-MW solar power plant at Kutch, third in a month

IANS

Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global

IANS

Adani Green boosts its renewable energy capacity with acquisition of 74.94 MW projects from Sterling & Wilson

IANS

Adani Green’s 54% rally this year tempts TotalEnergies to book profits

Rounak Jain

Adani Green wins world's largest solar award entailing $6bn investment

IANS

Adani Green's Q3 net loss widens to Rs 128 cr

PTI

Even Saudi Aramco has a lot to gain from an investment from Gautam Adani

Kritti Bhalla

Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty

Rounak Jain

The best Adani stock this year is also the most green one

Katya Naidu

From liquor sale amid lockdown to SBI cutting savings rate- here’s what you might have missed in headlines today

PTI