Adani Green Energy Arm Commisions 57.2 MW Wind-Power Component For Khavda Project

Adani Renewable Energy Forty Eight Ltd., a step-down subsidiary of Adani Green Energy Ltd., commissioned a 57.2-megawatt wind power component of its wind-solar hybrid project at Khavda, Gujarat, on Tuesday, according to an exchange filing.

Adani Green Energy’s total operational renewable energy was brought to 11,666.1 MW.

The plant became operational on Tuesday.

"It was decided at 2:51 p.m. on Jan. 14, 2025, to operationalise the plant and commence power generation from Jan. 15, 2025," the filing said.

This development came after the same subsidiary, Adani Renewable Energy Forty Eight, had commissioned a 62.4-megawatt wind power component for the Khavda-based hybrid project on Dec. 29.

After the commissioning, Adani Green Energy's total operational renewable generation capacity had increased to 11,608.9 megawatts.

Adani Green Energy Twenty Four A Ltd, a step-down subsidiary of Adani Green Energy, has commissioned a 112.5 MW solar power project in Khavda, Gujarat. The plant became operational on Dec. 28.

Shares of Adani Green Energy Ltd. rose as much as 14.46% during the day to Rs 1,018.40 apiece on the National Stock Exchange. It closed 13.16% higher at Rs 1,006.85 per share, compared to a 0.39% advance in the benchmark Nifty. The share price had fallen 40.59% on a year-to-date basis.

Three out of the 4 analysts tracking the company have a 'buy' rating on the stock and one suggests 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 95.3%.