AGEL plunges over 4 per cent despite commissioning 25 MW solar power plant in UP

On Monday, Adani Green Energy Limited (AGEL) announced that its step-down subsidiary, Adani Solar Energy Chitrakoot One Limited has commissioned a 25 MW solar power plant at Chitrakoot (Uttar Pradesh).  

The plant has a power purchase agreement (PPA) with Noida Power Company Limited (NPCL) at Rs 3.08/kWh. It will be connected to the company’s Energy Network Operation Centre (ENOC) that continuously monitors and analyses performance of more than 80 solar & wind plants across diverse locations in India.   

With the commissioning of this project, AGEL will have a total renewable capacity of 14,795 MW including 11,820 MW awarded and under implementation projects.  

Speaking on this development, Vneet S. Jaain, MD & CEO of Adani Green Energy Ltd stated that with this feat, the company is on the course of achieving a renewable capacity of 25 GW by 2025 and become the world’s largest renewable power company by 2030.   

On Monday, the stock of AGEL closed at Rs 967.95 per share, down by 4.63 per cent or Rs 46.95 per share on BSE. Its 52-week high is Rs 1,220 while the 52-week low is Rs 112.70 on BSE.