Adani Inexperienced Power Restricted (AGEL) is a number one renewable vitality firm led by Gautam Adani. It has the biggest working renewable portfolio in India with 8,216 MW. AGEL has been acknowledged globally for its ESG efficiency and goals to be among the many prime 10 ESG corporations within the electrical utility sector by 2025.
Adani Inexperienced Power Restricted (AGEL), led by Gautam Adani, has achieved recognition as one of many prime 10 renewable vitality corporations globally for its distinctive environmental, social, and governance (ESG) efficiency. Institutional Shareholder Companies ESG, a famend supplier of ESG rankings and analysis, has ranked AGEL within the ‘Prime’ (B+), band, acknowledging the corporate’s robust ESG disclosure practices and excessive stage of transparency. This achievement follows AGEL’s earlier recognition as one of many world’s prime 10 renewable vitality corporations by Sustainalytics within the fiscal yr 2023.
With a present working renewable portfolio of 8,216 MW, AGEL possesses the biggest renewable vitality portfolio in India. The corporate’s operations not solely contribute to preventing local weather change but additionally facilitate the transition in direction of a extra sustainable vitality system. AGEL is dedicated to addressing related social and environmental dangers via devoted administration techniques.
AGEL has established a complete ESG framework with 4 pillars: guiding ideas, insurance policies, dedication, and assurance. This framework aligns the corporate with varied sustainability initiatives and requirements, together with the UN World Compact, UN Sustainable Targets, India Enterprise and Biodiversity Initiatives, Inexperienced Bond Rules, and IFC’s E&S Efficiency. AGEL has set formidable ESG targets in step with these insurance policies, aiming to be ranked among the many prime 10 ESG corporations globally within the electrical utility sector by the fiscal yr 2025.
The corporate’s monetary efficiency has additionally been spectacular. Within the March quarter, AGEL reported a four-fold surge in revenue, with consolidated revenue reaching Rs 507 crore, marking a development of 319%. This outstanding development was pushed by a surge in revenues, which elevated by 88% to Rs 2,988 crore in comparison with the identical quarter of the earlier yr. AGEL attributed its sturdy monetary efficiency to the addition of two,676 MW capability in the course of the interval.
Gautam Adani, Chairman of the Adani Group, expressed his satisfaction with the corporate’s achievements, highlighting its resilience and dedication to setting new trade requirements in effectivity, efficiency, and capability improvement. He emphasised AGEL’s position in expediting India’s transition to sustainable vitality and fulfilling the nation’s obligations in direction of a greener future.
AGEL’s success is just not restricted to its monetary efficiency alone. The corporate additionally reported optimistic developments in its renewable vitality gross sales. Within the March quarter, the sale of photo voltaic vitality elevated by 6% as a result of commissioning of 212 MW in Rajasthan throughout FY23 and enhancements within the capability utilization issue (CUF). The wind vitality gross sales noticed a considerable enhance of 69% as the corporate’s wind portfolio expanded from 497 MW to 971 MW. Nonetheless, the CUF for wind vitality was diminished attributable to decrease wind speeds. AGEL efficiently operationalized a 700 MW solar-wind hybrid challenge in the course of the fourth quarter of FY23, bringing the whole hybrid capability to 2,140 MW.
AGEL’s accomplishments in ESG efficiency and its spectacular monetary and operational outcomes reveal its dedication to sustainable practices and its place as a pacesetter within the renewable vitality sector. The corporate’s steady efforts in driving the transition to a greener future and its robust efficiency within the Indian renewable vitality market make it a outstanding participant within the world renewable vitality panorama.