Adani Green's Nine-Month Operational Capacity Grows By 37% To 11,609 MW

Adani Green's nine-month operational capacity increased by 37% year on year to stand at 11,609 mega watt. The greenfield addition stood at 2,693 MW solar while the wind power for the period under review was 438 MW. The nine-month sale of energy rose by 23% and reached 20,108 mn units year-on-year.

The Solar Portfolio Capacity Utilization Factor stood at 23.5% backed by  99.4% plant availability. The Wind Portfolio's CUF for the period under review stood at 29.2% as this was backed by 95% plant availability. Nine-month Hybrid Portfolio's CUF was recorded at 39.8%. This was backed by 99.7% plant availability.

The surge in Adani Green Energy comes after its step-down subsidiary Adani Renewable Energy Forty Eight Ltd. commissioned 57.2 MW wind power component at Khavda project. With commissioning of this plant, the company’s total operational renewable generation capacity increases to 11,666 MW.

Adani Green stock rose as much as 7.27% during the day to Rs 1,080 apiece on the NSE. It was trading 3.19% higher at Rs 1,039 apiece, compared to an 0.32% advance in the benchmark Nifty 50 as of 11:27 a.m.

The total traded volume so far in the day stood at 5.1 times its 30-day average. The relative strength index was at 46.

Three out of the four analysts tracking the company have a 'buy' rating on the stock and one suggests a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 1,966.2, implying an upside of 89%.

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