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Informist, Wednesday, Jul. 22, 2026

 

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--Adani Green: Aim to commission 10GW battery capacity in FY27
--CONTEXT: Comments by Adani Green mgmt in post earnings analyst call 
--Adani Green: Aim to finish 500 MW pump hydro project in Andhra this year
--Adani Green: Don't see any curtailment of power transmission from Khavda 
--Adani Green: Sales pact with Adani Energy for battery power fix for 15 yrs 
--Adani Green: Sales pact with Adani Energy for solar, wind power for 25 yrs 
--Adani Green: See FY27 operational EBITDA at INR 210 bln vs INR 170 bln FY26
--Adani Green: To spend INR 420 bln in capex for FY27 
--Adani Green: Seriously evaluating many large sites similar to Khavda

 

By Sunil Raghu and Prateem Rohanekar
 
AHMEDABAD/MUMBAI– Adani Green Energy Ltd. seeks to spend INR 420 billion on capital expenditure in 2026-27 (Apr-Mar), and is evaluating several large sites similar to Khavda where it is setting up a 30 gigawatts renewable energy capacity, its management said Wednesday in an analysts' call after June quarter earnings. The company also aims to add 10 gigawatt-hours of battery energy storage capacity in FY27.
 
The company has reached 3.5 gigawatt-hour battery storage at Khavda. Other than Khavda in Gujarat, where the company is setting up a 30 GW renewable energy capacity by 2029, Adani Green also plans to develop battery storage projects in Rajasthan as part of its broader expansion strategy. Adani Green is also aiming to complete its 500-megawatt pumped-hydro storage project at Chithravathi in Andhra Pradesh this fiscal.
 
Adani Green reported a consolidated net profit of INR 8.45 billion for the June quarter, up almost 19% on year and nearly double on quarter. Its revenue from operations saw an uptick of nearly 17% on year and almost 27% on quarter to INR 44.31 billion. The Adani group firm's consolidated EBITDA from power supply grew 33% on year and 40% on quarter to INR 41.22 billion. Its EBITDA margin improved to 94%, up from 93% in the year-ago quarter and 91% in the March quarter. 
 

The company's operational capacity improved 27% on year to 20.14 gigawatts, including a greenfield addition of 4.33 gigawatts. During the quarter, Adani Green added capacity of 848 megawatts and commissioned battery energy storage system capacity of 1.97 gigawatt-hours, taking its total installed capacity to 3.55 gigawatt-hours. 
 

Adani Green added greenfield capacity of 4.33 gigawatts during the quarter under review on a year-on-year basis. This included solar energy capacity of 3.05 gigawatts in Khavda, Gujarat, and Rajasthan, 684 megawatts of wind energy capacity in Khavda, and 592 megawatts of solar-wind hybrid capacity in Khavda. Energy sales by Adani Green increased 30% year-on-year to 13.66 billion units, driven by fresh greenfield capacity additions and strong operations.

 

Talking about the intra-group Power Purchase Agreement between Adani Green Energy Ltd. and a subsidiary of Adani Energy Solutions Ltd., namely Adani Electricity Mumbai Ltd., the company said so far deal for 4 gigawatss of electricity has been struck. Accordingly, Adani Green would supply electricity to Adani Energy Solutions at a price benchmarked to merchant power rates in the market.

 

The management said that the tie-up for battery storage power with Adani Energy is for 15 years and for solar and wind electricity, the power purchase agreement is for 25 years. They further said that return profile was in line with 15-16% range, and benchmark for solar and wind electricity would be around INR 2.7-3.5 per unit for battery storage power, or primarily in line with merchant power rates prevalent in the markets.

 

Giving the rationale, Adani Green Energy management said that they seek to concentrate more on operational excellence, project execution, deploying the capex more efficiently, and then de-risk any vagaries of market from long-term perspective and get the long-term returns as per their expectations. The curtailment owing to lack of transmission network to evacuate power generated at Khavda had an impact in the range of 5-7% of the company earnings. "By the end of this calendar year, our expectation is that there should not be any curtailment, at least from Khavda, for all the capacities which we have installed," the company official said. Currently, transmission evacuation for 7 GW is available, with another 7 GW of capacity slated to come up before the end of current financial year.

 

Adani Green reported its June quarter financials during market hours. Wednesday, shares of the company ended 4.5% lower at INR 1,472.30 on the National Stock Exchange.  End

 

Edited by Akul Nishant Akhoury

 

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