Adani Green Energy PNG Transparent Images

Submitted by on Apr 19, 2023

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Adani Green Energy Limited (AGEL) is a renewable energy firm based in Ahmedabad, Gujarat, India. Adani Group, an Indian company, owns it. The company operates the Kamuthi Solar Power Project, one of the world’s largest solar photovoltaic facilities.

Adani Green Energy Limited was formed under the Companies Act 2013 on January 23, 2016.

AGEL and Inox Wind collaborated to develop a 20 MW wind power project in Lahori, Madhya Pradesh, during their early days. AGEL also purchased Inox Wind’s 50 MW wind power plant in Dayapar village, Kutch. The latter came up with the idea after winning a capacity bid for wind power plants connected to the National Grid from the Solar Energy Corporation of India.

Adani Renewable Energy Park Limited, an AGEL subsidiary, signed a joint venture agreement with the Government of Rajasthan in 2015-2016.

In 2017, the business acquired entire control of Adani Enterprises’ overall solar energy portfolio and floated on the National Stock Exchange of India and the Bombay Stock Exchange.

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Adani Green Energy Limited had a market capitalization of Rs. 3,26,635.42 crore in 2022.

The company now administers 5,290 MW of wind energy and solar power facilities in 11 Indian states, including Uttar Pradesh, Rajasthan, Punjab, Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Tamil Nadu, and Telangana. AGEL now has a 5.29 GW project portfolio and an operational capacity of 2.36 GW.

AGEL had one joint venture and 39 subsidiaries as of March 31, 2019.

The Solar Energy Corporation of India (SECI) awarded AGEL the world’s largest solar bid of $6 billion in May 2020. AGEL’s bid calls for the construction of an 8000 MW photovoltaic power facility.

AGEL declared its decision to purchase SoftBank Group Corp-backed SB Energy Holdings Limited for $3.5 billion in May 2021.

Hindenburg Research published the findings of a two-year investigation alleging that Adani committed in market manipulation and accounting fraud in January 2023; Hindenburg also disclosed that it has short positions in Adani Group firms. Bonds and stock in companies affiliated with Adani fell in value following the allegations. Adani dismissed the claims of fraud as false and ill intentioned.

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