Ahmedabad: Adani Green Energy Ltd (AGEL), the renewable energy arm of the diversified Adani Group, today announced financial results for the quarter ended June 30, 2022. The performance snapshot for the period is as follows:
Operational Performance – Q1 FY23:
|Q1 FY23||Q1 FY22||% change|
|Sale of Energy (Mn units) 1||3,550||2,054||73%|
|Solar portfolio CUF (%)||26.5%||25.0%|
|Wind portfolio CUF (%)||47.0%||38.5%|
|Solar-Wind Hybrid (%)||43.4%||–|
Improvement in Wind CUF is backed by technologically advanced WTGs, improved plant availability now at 96% and improved wind speed.
High Solar-Wind Hybrid CUF is backed by technologically advanced solar modules and WTGs, high plant availability of 100% and high grid availability of 100%.
Financial Performance – Q1 FY23:
|Q1 FY23||Q1 FY22||% Change|
|Revenue from Power Supply||1,328||848||57%|
|EBITDA from Power Supply 2||1,265||789||60%|
|EBITDA from Power Supply (%)||92%||92%|
|Cash Profit 3||680||460||48%|
Robust growth in revenue and EBITDA from power supply is backed by capacity addition, improved solar and wind CUF and high hybrid CUF.
Consistent EBITDA margin backed by high solar, wind and hybrid CUF and cost efficiencies brought in through real time centralized monitoring through Energy Network Operation Center.
“With deployment of the latest technologies and analytics driven O&M, AGEL’s Solar and Wind portfolio performance has continued to improve. We are further proud of our teams that have enabled commissioning of India’s first solar – wind hybrid capacity of 390 MW at Jaisalmer, Rajasthan with more such projects in pipeline. We will continue to deploy the latest technologies to enable higher and cost efficient RE power generation with flexible integration with the grid.” said Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd.
He further said, “Simultaneously, we are striving to increase our ESG efforts with which our commitment to light up a sustainable future is only growing stronger. We will continue our journey towards strengthening the governance standards that we began with revision in the board committee charters in favour of more independent director representation and formation of new committees.”