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HomeNewsAdani Green Energy soars 20% on heavy volumes

Adani Green Energy soars 20% on heavy volumes


Shares of (AGEL) soared 20 per cent to Rs 2,405 on the National Stock Exchange (NSE) in Friday’s intra-day trade backed by heavy volumes. At 01:01 PM, the stock of Adani Group’s electric utilities company traded 13 per cent higher at Rs 2,270, as compared to 1.6 per cent rise in the Nifty 50. The average trading volumes on the counter more-than-doubled with a combined 3.8 million shares changing hands on the NSE and BSE.

Despite of today’s rally, in past one month, AGEL has underperformed the market by falling 7 per cent, as compared to 4 per cent decline in the Nifty 50. The stock had hit a record high of Rs 3,048 on April 19, 2022.

Spitze Trade and Investment Limited, one of the promoters of AGEL acquired 4 million equity shares representing 0.25 per cent of total equity of the company for Rs 935 crore. The promoter purchased shares of the company via open market between September 15 and September 26, the exchange data show. CLICK HERE FOR DETAILS.

Meanwhile, AGEL on Thursday announced that the company has commissioned 600 MW World’s largest co-located Wind-Solar Hybrid power plant ‘’Hybrid Power Plant’’ at Jaisalmer, Rajasthan. The plant has Power Purchase Agreements (PPA) with Solar Energy Corporation of India (SECI) at Rs 2.69/kwh for 25 years.

Earlier, in May 2022, AGEL had operationalized India’s first hybrid power plant with a capacity of 390 MW at Jaisalmer, Rajasthan. With the successful commissioning of this 600 MW plant, AGEL now has a total operational generation capacity of ~6.7 GW, including operational hybrid power generation capacity of ~1 GW, the largest in the World. This puts AGEL’s total renewable portfolio of ~20.4 GW well on track to reach its vision of 45 GW capacity by 2030, the company said.

AGEL has one of the largest global renewable portfolios with an overall portfolio of 20.4 GW including operating, underconstruction and awarded assets catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar, wind farm and Hybrid plants. Key customers of AGEL include SECI, National Thermal Power Corporation (NTPC) and various State Discoms.


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