Adani Green Energy Limited (AGEL) has announced that its wholly-owned subsidiary, Adani Renewable Energy Holding Twelve Limited (AREH12L), has been awarded a contract by Uttar Pradesh Power Corporation Limited (UPPCL) for the supply of 400 MW of solar power. This development reinforces AGEL’s position as a key player in India’s renewable energy sector.

The project entails the development of a grid-connected solar photovoltaic (PV) power plant in Rajasthan, which will supply power to UPPCL for 25 years. The tariff for the supply has been set at Rs. 2.57 per kilowatt-hour (kWh), ensuring a competitive and cost-effective solution for sustainable energy generation.

AGEL confirmed that the contract does not involve any related party transactions. The company also clarified that neither its promoters, promoter group, nor any associated group companies have any financial or business interests in UPPCL. This transparency underscores AGEL’s commitment to ethical business practices and adherence to corporate governance norms.

As one of India’s largest renewable energy firms, AGEL has been instrumental in driving the country’s transition toward sustainable energy. The company currently boasts a total operational renewable energy portfolio of 13,091.1 MW, comprising solar, wind, and hybrid projects. This recent contract aligns with AGEL’s long-term goal of achieving 50 GW of renewable energy capacity by 2030, further strengthening its contribution to India’s green energy mission.

The financial performance of AGEL has also reflected its robust growth trajectory. In the third quarter of the fiscal year 2025 (Q3 FY25), the company reported a consolidated net profit increase of 92.2%, reaching Rs. 492 crore. Additionally, its sales rose by 3.1% to Rs. 2,286 crore compared to the corresponding quarter in the previous fiscal year. Despite this positive financial performance, AGEL’s stock recorded a marginal decline of 0.17%, closing at Rs. 958 on the Bombay Stock Exchange (BSE).

Also Read | Adani Green Energy achieves 10,000 MW Renewables capacity, First to do so in India

The awarding of this project comes as a significant milestone in India’s pursuit of cleaner energy sources. With an increasing emphasis on renewable energy adoption, projects like these not only contribute to the reduction of carbon emissions but also support the country’s broader sustainability goals.

AGEL remains committed to leveraging advanced technology and innovative solutions to enhance its renewable energy portfolio. By continuously expanding its capacity and securing long-term contracts, the company is playing a pivotal role in shaping India’s renewable energy landscape.

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