Adani Green Energy gains on BSE

Adani Green Energy is currently trading at Rs. 1812.80, up by 38.15 points or 2.15% from its previous closing of Rs. 1774.65 on the BSE.

The scrip opened at Rs. 1770.25 and has touched a high and low of Rs. 1817.25 and Rs. 1756.00 respectively. So far 69785 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2173.65 on 03-Jun-2024 and a 52 week low of Rs. 816.00 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 1828.80 and Rs. 1756.00 respectively. The current market cap of the company is Rs. 280302.47 crore.

The promoters holding in the company stood at 56.37%, while Institutions and Non-Institutions held 19.70% and 23.93% respectively.

Adani Green Energy (AGEL) is planning to invest about Rs 2 lakh crore by 2030 to build 40 gigawatts of renewable energy generation capacity. The company is targeting net zero emissions across businesses by 2050. The company currently has over 10 GW of capacity to generate electricity from renewable sources like sunlight and wind energy and is looking to add 6-7 GW every year to reach 50 GW by 2030.

AGEL added 2.8 GW capacity in the 2023-2024 (April 2023 to March 2024) fiscal, which was 15 per cent of India's total renewable energy capacity addition. The company brought on a stream of 2,848 MW (2.8 GW) renewables capacity, the largest greenfield expansion in India's renewable energy sector. This included 2,418 MW solar and 430 MW wind projects.

Of the capacity commissioned in FY24 includes 2,000 MW of solar capacity from Adani Green Energy's World's largest renewable energy project of 30,000 MW, being built at Khavda, Gujarat. The project is spread across 538 square kilometres, almost five times the city of Paris. Once built, it will be the largest power plant in the world. 

AGEL is also targeting the addition of at least 5,000 MW pumped storage project (PSP) capacity by 2030 in the first phase. It has begun the construction of the first 500 MW PSP in Andhra Pradesh. The company has a robust development pipeline of hydro-pumped storage projects across Andhra Pradesh, Maharashtra, Tamil Nadu and Telangana. With this, AGEL has revised its renewable energy target to 50,000 MW from 45,000 MW by 2030.

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.