Shares of Adani Green surge after commissioning of 600 MW Wind-Solar Hybrid power plant
With this, Adani Green Energy Ltd.’s total operational renewable capacity now stands at 6.7 GW.
Shares of Adani Green Energy Ltd (AGEL) are buzzing on the bourses today. As of 12.57 pm, the shares of AGEL are trading at Rs 2068.65 apiece, higher by 0.88% over the previous close. Meanwhile, the frontline index S&P BSE Sensex is down by 0.21%.
The surge in the share price of AGEL has come after an announcement made by the company today. As per the exchange filing, the company has commissioned a 600 MW Wind-Solar Hybrid power plant in Rajasthan. This is the world’s largest co-located Wind-Solar Hybrid power plant and has 25-year Power Purchase Agreements (PPA) with SECI at Rs 2.69/kWh.
This Hybrid Power Plant consists of 600 MW Solar and nearly 150 MW Wind plants. The solar plant utilizes technologically superior Bifacial PV modules and employs Horizontal Single-Axis Tracker (HSAT) technology to capture maximum energy from the sun. This shall bring down the intermittency of Renewable Energy power.
With this, Adani Green Energy Ltd’s total operational renewable capacity now stands at 6.7 GW. Further, AGEL stays well on track to reach its vision of 45 GW capacity by 2030. This 600 MW Hybrid plant is housed in two AGEL subsidiaries viz, Adani Hybrid Energy Jaisalmer Two Ltd and Adani Hybrid Energy Jaisalmer Three Ltd.
Adani Green Energy Ltd, a part of the Adani Group, develops, builds, owns, operates and maintains utility-scale grid-connected solar, wind farm and Hybrid plants.
The company is currently trading at a TTM PE of 671x against the industry PE of 19.5x. In FY22, the company delivered an ROE & ROCE of 47.5% and 7.84%, respectively.
Today, the scrip opened at Rs 2109.90 and has touched a high and low of Rs 2139.15 and Rs 2081.30, respectively. So far 34,438 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 3,048 and Rs 1,106, respectively on BSE.
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