Adani Green Energy Ltd. on Friday commissioned a solar power project of 212.50 megawatts at Khavda, Gujarat, through its wholly-owned stepdown subsidiary Adani Renewable Energy Fifty Seven Ltd.
With the commissioning of this plant, Adani Green's total operational renewable generation capacity has increased to 13,700.3 MW, according to a stock exchange filing.
Last month, the company surpassed a record 12,000 MW of operational portfolio, the first and only renewable energy company in India to reach the landmark.
Adani Green is developing the world's largest renewable energy plant of 30,000 MW on the barren wasteland at Khavda in the Kutch district. Built across 538 sq kms, it is five times the size of Paris and almost as large as Mumbai city. Once complete, it will be the planet's largest power plant across all energy sources.
Adani Green Share Price Up
Adani Green share price advanced 1.2% intraday to Rs 971.6 apiece. The scrip was trading 0.7% lower by 1:45 p.m. The benchmark NSE Nifty 50 was down 0.46%.
The stock has fallen 47% in the last 12 months and 7% on a year-to-date basis. The relative strength index was at 67.
Five out of six analysts tracking Adani Green Energy have a 'buy' rating on the stock, and one suggests a 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 35%.
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