The RBI on Tuesday introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs)
The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020
Adani Green Energy (AGEL) has inked a pact with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy. According to a company statement, this is the world's largest ever green power purchase agreement (PPA). "This is yet another step in our journey to enable India's dual objective to accelerate India's renewable energy footprint as well as promote domestic manufacturing under the Aatmanirbhar Bharat programme, said Gautam Adani, Chairman of the Adani Group. Following the proceedings at COP 26, it is increasingly evident that the world has to equitably transition to a low carbon economy faster than previously anticipated, he noted. This is why the Adani Group has committed USD 50-USD 70 billion of investment in the renewables space. This agreement keeps us well on track to our commitment to become the world's largest renewables player by 2030," Adani added. The AGEL-SECI agreement to supply 4,667 MW is part of a manufacturing-linked solar tender of 8,
Total income doubles, energy sales up 54% to nearly four billion units
Solar energy sales grew by 41 per cent
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Just last week, Adani Group Chairman Gautam Adani had announced that the Group would invest over $ 20 billion across the next 10 years in renewable energy generation
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The project has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for Rs 4.235 per unit, with remaining PPA life of about 22 years
Funds will be utilised towards equity funding of the capex for underlying renewable projects under construction by AGEL
Outlook is stable. AGEL will primarily use the proceeds to on-lend to its direct and indirect subsidiaries so they can fund the development of utility-scale renewable power projects
Moody's Investors Service has assigned a Ba3 rating to Adani Green Energy's proposed USD senior secured notes.
Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent)
The total income of the company increased to Rs 1,079 crore in the first quarter from Rs 878 crore in the same period a year ago
Adani Green Energy Ltd has posted nearly 10-fold jump in its consolidated net profit at Rs 219 crore for the June quarter, compared to the year-ago period, mainly on the back of higher revenues.
Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE