Adani Green Energy in the first quarter of FY24 increased its operational capacity by 43 percent year on year to 8,316 MW, with addition of 1,750 MW solar–wind Hybrid power plants in Rajasthan, 212 MW solar plant in Rajasthan and 554 MW wind power plant in Gujarat.

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The sale of energy rose 70 percent year on year to 6,023 mn units in Q1 FY24 versus 3,550 mn units in Q1 FY23, backed by robust capacity addition.

The solar

portfolio capacity utilization factor (CUF) was 26.9 percent with 40 bps improvement year on year, backed by 99.7 percent plant availability. The sale of solar energy rose 6 percent to 2,925 mn units on the back of 212 MW capacity addition in Rajasthan. Furthermore, the improved CUF performance backed by consistent high plant availability and improved solar irradiation.

Wind portfolio CUF was at 38.7 percent with 830 bps reduction year on year. The reduction is primarily due to relatively lower wind speed, which was higher last year. Also, wind turbine generators were shutdown during Biparjoy cyclone in the state of Gujarat as a safety measure. The sale of wind energy is 34 percent higher at 892 mn units on the back of capacity increase from 647 MW to 1,201 MW year on year.

Thehybrid portfolio CUF was robust 47.2 percent backed by 99.1 percent plant availability. The sale of hybrid energy rose to 2,206 mn units from 134 mn units year on year due to 1,750 MW capacity addition in Rajasthan and 380 bps improvement in CUF. ' New plants with technologically advanced solar modules (including bifacial modules and horizontal single axis trackers) and wind turbines', the company said in a press release to the exchanges.

The shares of Adani Green Energy are trading 0.7 percent higher at Rs 962 at 11am on July 13 and is trading 50 percent lower since the start of CY2023.

(Edited by : Vahishta Unwalla)