Adani Green Energy Limited (AGEL) is a leading renewable energy company led by Gautam Adani. It has the largest operating renewable portfolio in India with 8,216 MW. AGEL has been recognized globally for its ESG performance and aims to be among the top 10 ESG companies in the electric utility sector by 2025.
Adani Green Energy Limited (AGEL), led by Gautam Adani, has achieved recognition as one of the top 10 renewable energy companies globally for its exceptional environmental, social, and governance (ESG) performance. Institutional Shareholder Services ESG, a renowned provider of ESG ratings and research, has ranked AGEL in the ‘Prime’ (B+), band, acknowledging the company’s strong ESG disclosure practices and high level of transparency. This achievement follows AGEL’s previous recognition as one of the world’s top 10 renewable energy companies by Sustainalytics in the fiscal year 2024.
With a current operating renewable portfolio of 8,216 MW, AGEL possesses the largest renewable energy portfolio in India. The company’s operations not only contribute to fighting climate change but also facilitate the transition towards a more sustainable energy system. AGEL is committed to addressing relevant social and environmental risks through dedicated management systems.
AGEL has established a comprehensive ESG framework with four pillars: guiding principles, policies, commitment, and assurance. This framework aligns the company with various sustainability initiatives and standards, including the UN Global Compact, UN Sustainable Goals, India Business and Biodiversity Initiatives, Green Bond Principles, and IFC’s E&S Performance. AGEL has set ambitious ESG targets in line with these policies, aiming to be ranked among the top 10 ESG companies globally in the electric utility sector by the fiscal year 2025.
The company’s financial performance has also been impressive. In the March quarter, AGEL reported a four-fold surge in profit, with consolidated profit reaching Rs 507 crore, marking a growth of 319%. This remarkable growth was driven by a surge in revenues, which increased by 88% to Rs 2,988 crore compared to the same quarter of the previous year. AGEL attributed its robust financial performance to the addition of 2,676 MW capacity during the period.
Gautam Adani, Chairman of the Adani Group, expressed his satisfaction with the company’s achievements, highlighting its resilience and commitment to setting new industry standards in efficiency, performance, and capacity development. He emphasized AGEL’s role in expediting India’s transition to sustainable energy and fulfilling the country’s obligations towards a greener future.
AGEL’s success is not limited to its financial performance alone. The company also reported positive developments in its renewable energy sales. In the March quarter, the sale of solar energy increased by 6% due to the commissioning of 212 MW in Rajasthan during FY23 and improvements in the capacity utilization factor (CUF). The wind energy sales saw a substantial increase of 69% as the company’s wind portfolio expanded from 497 MW to 971 MW. However, the CUF for wind energy was reduced due to lower wind speeds. AGEL successfully operationalized a 700 MW solar-wind hybrid project during the fourth quarter of FY23, bringing the total hybrid capacity to 2,140 MW.
AGEL’s accomplishments in ESG performance and its impressive financial and operational results demonstrate its commitment to sustainable practices and its position as a leader in the renewable energy sector. The company’s continuous efforts in driving the transition to a greener future and its strong performance in the Indian renewable energy market make it a prominent player in the global renewable energy landscape.
