Adani Green Energy Ltd. (AGEL) on Thursday released its financial results for the quarter that ended on June 30, 2024, showing notable growth and exceptional operational performance.
On the financial results, AGEL CEO Amit Singh said, “We are working relentlessly towards the development of world’s largest single-location renewable energy plant of 30 GW at Khavda in Gujarat. To enable accelerated implementation, we have deployed advanced robotics technology for installation of solar modules, significantly enhancing productivity. Additionally, we have developed an extensive local supply chain and established a sustained mobilisation of human resources.”
Capacity Addition and Operational Performance
Operational Capacity: Increased by an incredible 31% YoY to 10,934 MW due to greenfield additions that included 200 MW of wind capacity in Gujarat, 418 MW of solar capacity in Rajasthan, and 2,000 MW of solar capacity in Khavda.
Energy Sales: Increased by 22 per cent YoY propelled by the robust capacity additions and strong operational efficiency.
Exceeding Commitments: AGEL has constantly produced more electricity than it was required to under the terms of the power purchase agreements every year. AGEL’s PPA-based electricity production accounted for 111% of the total annual commitment in FY24. AGEL has already produced 31% of the yearly commitment as of Q1 FY25.
O&M Efficiency: With the Energy Network Operation Centre providing real-time monitoring of the nation’s renewable facilities, AGEL’s O&M is powered by advanced technology. This has resulted in a reduction in O&M costs and sustained greater plant availability, which has increased the generation of electricity. The end result is an industry-leading EBITDA margin of 92.6%.
Development of World’s Largest Re-plant at Khavda
– World’s largest power plant: In Gujarat’s Khavda, AGEL is building a gigantic 30 GW renewable energy facility. This covers 538 square kilometres or about five times the size of Paris. Not only is this the biggest single-location renewable energy plant in the world, but it is also the biggest single-location power plant globally, including all power sources. The development of ultra-large-scale renewable energy plants will be standardised globally by this initiative.
– Rapid execution: Within 12 months of breaking ground, AGEL already operationalised the first 2 GW. A significant portion of AGEL’s planned 6 GW capacity addition in FY25 will come from Khavda. By 2029, the complete 30 GW RE capacity will be produced in Khavda, establishing a record for the fastest implementation of such a large-scale project globally.
– Most advanced renewable technologies deployed: The facility maximises the generation of electricity by utilising the most advanced bifacial solar modules and trackers. Additionally, it uses a 5.2 MW wind turbine, the biggest in India and among the strongest onshore wind turbines in the world. By optimising the levelized cost of electricity, these wind turbines will harness the high wind speeds of around 8 meters per second that are accessible in Khavda. Khavda also uses fully robotic cleaning, which boosts its electricity production while using almost no water for module cleaning.
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