LIC-Backed Adani Group Company and TotalEnergies Form Joint Venture for 1,150 MW Solar Projects in Gujarat – Net Profit Margins at 22 Per cent in Q1!
The company’s shares have delivered an impressive return of over 95 per cent to its shareholders in just 1 year.
Adani Green Energy Limited (AGEL), India's largest renewable energy company, has partnered with TotalEnergies to establish a 50-50 joint venture focused on managing 1,150 MW of solar projects at the Khavda renewable energy plant in Gujarat. As part of the agreement, AGEL will contribute its existing assets, while TotalEnergies will invest USD 444 million to accelerate project development.
This collaboration reflects the companies' commitment to advancing India's clean energy transition. The electricity generated will be sold through Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI) and in the wholesale market.
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The Khavda plant spread across 538 square kilometers, is the world's largest renewable energy site. AGEL has already operationalized 2,250 MW of solar and wind capacity there. Upon completion, the plant will supply affordable clean energy to over 16 million homes, create over 15,200 green jobs, and reduce CO2 emissions by approximately 58 million tons annually.
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Currently, the shares of Adani Green Energy Limited are trading at around Rs 1889.75 per share on the BSE. The company’s current market capitalization stands at Rs 2,99,342 crore. Additionally, the shares have delivered an impressive return of over 95 per cent in the past 1 year.
As per the Quarterly Results, in Q1 FY25, Adani Green Energy Limited recorded a revenue of Rs 2835 crore. The operating profit stood at Rs 2420 crore. The net profit for Q1 FY25 was Rs 629 crore compared to Rs 323 crore. Looking at the annual performance, the company generated a revenue of Rs 9220 crore in FY24. The operating profit for FY24 was Rs 7318 crore with a net profit of Rs 1260 crore compared to a net profit of Rs 973 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.