Adani Green Energy Shines with 30% YoY Growth in FY24

Adani Green Energy Sets Ambitious 50 GW RE Target for 2030

Adani Green Energy Ltd (AGEL), India's premier renewable energy company, proudly announces its stellar financial performance for the fiscal year ending March 31, 2024. Reporting a remarkable 30% year-on-year growth in EBITDA to Rs. 7,222 crore, AGEL continues to lead the charge towards a sustainable energy future.

Financial & Operational Performance Highlights:

• Revenue Surge: AGEL's revenue soared by 33% YoY to Rs. 7,735 crore, showcasing robust growth in the renewable energy sector.

• EBITDA Milestone: The company achieved an industry-leading EBITDA margin of 92%, reflecting operational efficiency and strategic prowess.

• Capacity Expansion: AGEL added 2.8 GW of greenfield capacity in FY24, constituting 15% of India's total renewable energy capacity addition.

• Operational Excellence: Operational capacity surged by 35% YoY to reach 10.9 GW, reaffirming AGEL's position as a key player in the renewable energy landscape.

• Hydro Pumped Storage Initiative: In line with its commitment to innovation, AGEL initiated the development of 5 GW+ Hydro Pumped Storage capacity by 2030, with the inauguration of its first 500 MW project in Andhra Pradesh.

Key Milestones & Initiatives:

• Global Recognition: AGEL's environmental leadership was underscored by its 'A-' rating in the CDP Climate Change 2023 assessment and its top-tier 'A' rating in the CDP supplier engagement rating 2023.

• ESG Accolades: AGEL secured the top spot in Asia and ranked among the top 5 companies globally in the RE sector by ISS ESG, attesting to its robust ESG practices and transparency.

• Financial Acumen: AGEL successfully refinanced its RG1 bond, oversubscribed by 6.5 times, and achieved a competitive pricing of 6.7%, reflecting investor confidence in the company's financial health and growth prospects.

• Innovative Exhibits: AGEL's sponsorship of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London underscores its commitment to driving awareness and action towards sustainable energy solutions.

Future Outlook:

• Ambitious Targets: AGEL revised its renewable energy target for 2030 upwards to 50 GW, demonstrating its unwavering commitment to India's non-fossil fuel capacity target of 500 GW.

• Storage Solutions: With a focus on energy storage solutions, including hydro pumped storage projects, AGEL aims to accelerate the integration of renewables into the grid, paving the way for a greener and more sustainable future.

About Adani Green Energy Limited:

Adani Green Energy Limited (AGEL) is India's largest renewable energy company, dedicated to facilitating the clean energy transition through utility-scale solar, wind, and hybrid renewable power plants. With a robust operating portfolio of 10.9 GW spread across 12 states and a growth trajectory locked in up to 22 GW, AGEL is committed to powering sustainable growth and enabling largescale adoption of affordable clean energy.

Disclaimer: This report is based on press relase sent by the company.