Adani Green Stock Surges After Commissioning New Solar Plant In Rajasthan

About New Plant

Adani Green Energy Limited (AGEL), a frontrunner in India’s renewable energy sector, has inaugurated a new 180 MW solar power plant in Devikot, Jaisalmer, Rajasthan. This significant addition to AGEL’s portfolio strengthens its position as India’s largest renewable energy company. The plant boasts a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), ensuring a stable and reliable source of clean energy. The plant’s annual generation capacity of 540 million units is estimated to power over 110,000 homes while significantly reducing carbon emissions by around 0.39 million tons annually.

AGEL has incorporated next-generation technology to maximize the plant’s output. Bifacial solar PV modules capture sunlight from both sides, enhancing energy generation. Additionally, horizontal single-axis solar trackers ensure the panels track the sun throughout the day, further optimizing power production. The plant prioritizes water conservation, a crucial factor in the arid region of Jaisalmer. The innovative use of waterless robotic module cleaning systems ensures optimal panel performance without relying on precious water resources.

Adani Green leverages a digital cloud platform and an Energy Network Operation Centre (ENOC) for real-time monitoring of all their renewable energy assets. This advanced system enables them to optimize plant operations and ensure peak performance. With the commissioning of this new plant, AGEL’s operational solar portfolio expands to 6,243 MW, and its total renewable generation capacity reaches a staggering 9,784 MW, solidifying its position as India’s leader in the renewable energy sector. By promoting clean energy solutions, AGEL plays a vital role in India’s journey towards energy security and a sustainable future.

Share Price Movement

Adani Green Energy share price currently trading at Rs 1891.20, reflecting a gain of 1.77% from yesterday’s closing price of Rs 1858.35. This positive movement comes amidst overall market sentiment. The company has a market capitalization of Rs 2,99,572.22 crore, placing it within the prestigious S&P BSE 200 index. As a listed company categorized as “A group” with a T+1 settlement type, Adani Green’s shares trade under specific regulations. Looking at the broader price range, the 52-week high for Adani Green was Rs 2,016.00, while the 52-week low was Rs 796.00. The stock also has defined upper and lower price bands, currently set at Rs 2,230.00 and Rs 1,486.70 respectively, which help regulate price fluctuations.

Company Profile

Adani Green Energy Limited (AGEL), a public limited company in India, is one of the largest renewable companies in the country. Established in 2015, AGEL is part of the Adani Group’s commitment to a cleaner, greener future for India. The company develops, builds, owns, operates, and maintains utility-scale solar and wind farm projects, providing electricity to central and state government entities and government-backed corporations. AGEL has expanded its presence across many Indian states through long-term Power Purchase Agreements (PPAs) with central and state government entities. The company uses the latest technologies in its projects and is driving India’s renewable energy journey. AGEL is a holding company of several subsidiaries that operate in renewable power generation within the Adani Group.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.