A positive side of coronavirus pandemic is a relatively cleaner environment. This has in some ways brought focus to climate change as a topic of active concern. One stock that sets to benefit from this is Adani Green (AGEL).

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The stock has been moving in an opposite direction as compared to the Indian equity market. Adani Green's shares have jumped 100 percent from its March lows (March 16, 2020). The stock is now close to breaking its record high level.

In the last one year, the stock has zoomed 532 percent from Rs 37 to current levels of Rs 234.

The clean energy firm posted a strong performance in the fourth quarter. The consolidated net profit stood at Rs 56 crore as against the loss of Rs 94 crore in the same quarter last year.

It's revenue from power generation rose by 8 percent YoY to Rs 2,065 crore. The company's additional project commissioning, lower expenses, and full period operationalization have helped it to register profits in the March quarter.

The Gujarat-based solar and wind power generator has been standing on its front foot to increase capex this year (FY21). Adani Group's chairman Gautam Adani assured investors that the green and renewable energy motivated investments will continue this fiscal year.

Adani Green's CEO Jayant Parimal also recently said that nearly Rs 7,000 crore of the amount will be financed by debt raised by domestic lenders. Later, through a green bond issue, the debt could possibly be refinanced, hinted Parimal.

The company is also planning to spend Rs 8,000 crore and Rs 10,000 crore to build between 1,100 MW and 1,500 MW respectively of wind and solar power plants in the financial year 2020-21.

The firm has a current project portfolio of 6 GW including under-construction capacity.

Fitch Ratings in its latest report also said that AGEL's liquidity position is comfortable, and with low working capital requirements, the debt service reserve account is fully funded.

Earlier, AGEL announced that it entered into a joint venture with TOTAL Solar Singapore PTE Limited for about 2.1 GW of operating solar power projects presently owned by Adani.

Such large investments and growing profits indicate that the company is on the road towards developing clean energy for the future. As the demand for cleaner energy rises, this stock is set for greener pastures.