Adani Green Launches New Subsidiary to Strengthen Renewable Energy Portfolio
New Delhi [India], December 28: Adani Green Energy Limited (AGEL), a prominent player in India’s renewable energy sector, has announced the establishment of a new wholly owned subsidiary named Adani Green Energy Sixty Eight Limited (AGE68L). The incorporation of this new entity was revealed in AGEL’s exchange filing on Saturday.
According to the filing, Adani Renewable Energy Holding Nine Limited, another wholly owned subsidiary of AGEL, has spearheaded the creation of AGE68L. Registered in India with the Registrar of Companies, Gujarat, Ahmedabad, the subsidiary will focus on renewable energy generation and operations.
The company shared that AGE68L aims to generate, develop, distribute, transmit, and supply various forms of power using renewable energy sources such as solar and wind. It is a step toward enhancing India’s clean energy goals and meeting the rising demand for sustainable energy solutions.
AGE68L has been set up with an authorised and paid-up capital of ₹1,00,000. As of now, the subsidiary is yet to commence its business operations.
Pioneering Renewable Energy Projects
AGEL has been at the forefront of driving the clean energy transition in India. The company is currently developing a colossal 30 GW renewable energy project at Khavda in Gujarat, covering a vast area of 538 sq. km. This initiative is anticipated to set a global benchmark for large-scale renewable energy projects.
In record time, AGEL operationalised the first 2 GW of solar capacity within 12 months of breaking ground in the financial year 2023-24. In addition, the company achieved significant milestones by operationalising 250 MW of wind capacity over the past six months, showcasing its ability to deliver even under challenging conditions like the monsoon season.
Expanding Renewable Energy Footprint
AGEL now boasts an operational renewable energy portfolio of 11.2 GW, the largest in India, spanning across 12 states. The company is steadfast in its commitment to India’s decarbonisation goals and has set an ambitious target of achieving a 50 GW capacity by 2030.
With the incorporation of AGE68L, Adani Green Energy Limited reaffirms its mission to lead the renewable energy sector and contribute to India’s sustainable energy future.
