Gautam Adani-Backed Power Company Enters into Power Purchase Agreement with Uttar Pradesh Power Corporation Ltd

The company has a market cap of Rs 1.43 lakh crore and has delivered good profit growth of 127 per cent CAGR over the last 5 years with debtor days having improved from 68.9 to 50.1 days.

Adani Green Energy Limited (AGEL) informed that Adani Green Energy Sixty Nine Limited, a Wholly-owned step-down subsidiary of the Company, has entered into a Power Purchase Agreement (PPA) with Uttar Pradesh Power Corporation Limited (“UPPCL”) for supply of 400 MW solar power from grid connected solar PV power project to be developed in the state of Rajasthan.

About Adani Green Energy Limited

Adani Green Energy Limited (AGEL) is India’s largest and one of the leading renewable energy companies in the world, enabling the clean energy transition. AGEL develops, owns, and operates utility-scale grid-connected solar, wind, hybrid and hydro-pumped storage renewable power plants. AGEL currently has an operating renewable portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals.

AGEL is focused on leveraging technology to reduce the Levelized Cost of Energy (LCOE) in pursuit of enabling large-scale adoption of affordable clean energy. AGEL’s operating portfolio is certified ‘water positive for plants of more than 200 MW capacity’, ‘single-use plastic free’ and ‘zero waste-to-landfill’, a testament to the company’s commitment to powering sustainable growth. The company has a market cap of Rs 1.43 lakh crore and has delivered good profit growth of 127 per cent CAGR over the last 5 years with debtor days having improved from 68.9 to 50.1 days. The Life Insurance Corporation of India (LIC) has a 1.36 per cent stake.

Disclaimer: The article is for informational purposes only and not investment advice.