Adani Green basks in sun

Adani Green is making a mark on the last day of the year. It surged almost 4% to hit an intraday high at Rs.1090.70 and now trades at Rs.1073 levels.

The stock is up as its wholly owned subsidiary, Adani Solar Energy Kutchh Two, has commissioned 100 MWac Solar Power Project at Khirsara, Gujarat, ahead of its scheduled Commercial Operation Date (COD) according to its 25-year-long Power Purchase Agreement (PPA ) with the Gujarat Urja Vikas Nigam India (GUVNL).

The PPA is priced at Rs. 2.44/kWh, as on 29 December, 2020.

With this commissioning AGEL’s total operational renewable capacity grows to 2,950 MWac demonstrating a CAGR of 55% since March 2016.

AGEL has total renewable capacity of 14,195 MWac including 11,245 MWac awarded and under implementation projects; and targets commissioning of renewable capacity of 25 GW by 2025.