Adani Green Energy Ltd (AGEL) has achieved a significant milestone by becoming the largest renewable energy company in India, reaching an installed capacity of 8.4 gigawatts (GW) last week. This remarkable achievement is attributed to the commissioning of a 0.15 GW solar power park in Rajasthan, further solidifying AGEL’s position in the market.
Dominating the Solar Segment
AGEL stands out as a leader in India’s renewable energy landscape, boasting a 5 GW capacity in the solar segment alone, which is the largest in the country.
Competitors in the Race
Among its industry peers, AGEL faces competition from ReNew, which comes close with an 8.3 GW capacity, while Tata Power and Greenko Energies each have nearly 4 GW capacity. State-owned NTPC follows with a green energy capacity of 3.2 GW.
Aggressive Growth Plans
AGEL’s management has set ambitious growth targets, with plans to commission between 2.8 GW to 3 GW of additional capacity in the current financial year (FY24). To support this expansion, the company is allocating a capital expenditure of approximately Rs 14,000 crore for the current financial year.
AGEL’s upcoming projects will be strategically located in the states of Rajasthan, Gujarat, Andhra Pradesh, and Karnataka, as outlined in the company’s corporate presentations.
Vision for the Future
AGEL has announced its ambitious goal of achieving 45 GW of renewable energy capacity by the year 2030, emphasizing its commitment to sustainable energy generation and environmental responsibility.