In particular, the budget highlights the government’s focus on flagship programs like the PM Surya Ghar Muft Bijli Yojana, aimed at installing 10 million solar rooftops in residential areas. This initiative saw an 80% increase in funding, bringing its allocation to Rs 200 billion for FY26. The scheme offers subsidies for solar systems, with up to Rs 78,000 available for larger installations. The budget allocation for rooftop solar installations has surged nearly three times higher than the initial FY25 estimate, reflecting the government’s drive to expand access to clean energy.

The PM-KUSUM scheme, which provides solar-powered pumps for farmers, also saw a significant funding rise, with the allocation increased to Rs 26 billion for FY26, up from Rs 15 billion in FY25. This boost is part of the government’s effort to integrate solar energy into agriculture, benefiting both farmers and the environment.

In addition, the government’s push for clean tech manufacturing through the National Manufacturing Mission is expected to promote domestic production of solar equipment, further reducing reliance on imports and supporting India’s clean energy goals.

However, the budget did leave some gaps, particularly in incentives for battery energy storage, which are crucial for balancing renewable energy supply and demand on the grid.

With these investments, India is set to accelerate its transition to a sustainable energy future, providing significant support to both residential users and the agricultural sector, while also strengthening its position as a leader in the global solar market.

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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.

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On Friday, representatives from SAEL Solar, Norfund, and the United States Development Finance Corporation (DFC) met with Energy Minister Gottipati Ravi Kumar to discuss potential investments in solar energy, waste-to-energy projects, and solar panel manufacturing.

According to an official statement, the Andhra Pradesh Integrated Clean Energy Policy-2024 aims to create a robust regulatory environment for clean energy projects, driving international attention and investments. The discussions focused on exploring opportunities in renewable energy initiatives, with particular emphasis on solar energy and waste-to-energy solutions in the state.

The visiting delegation, which included officials from Norfund (Norwegian sovereign wealth fund) and the DFC, expressed strong confidence in the state’s policy framework. Both Norfund and DFC have supported SAEL Solar’s renewable energy ventures, with Norfund contributing USD 60 million through its Norwegian Climate Investment Fund and DFC offering USD 35 million in support of SAEL’s green energy projects.

SAEL Solar, a major Indian renewable energy company, is planning to develop 1,200 MW of renewable energy capacity in Andhra Pradesh, divided into two phases of 600 MW each. This ambitious project is expected to position the state as a significant renewable energy hub.

Energy Minister Gottipati Ravi Kumar highlighted the state’s commitment to clean energy innovation, noting that under the leadership of Chief Minister Nara Chandrababu Naidu, Andhra Pradesh has become a front-runner in the field. He emphasized that the Integrated Clean Energy Policy-2024 aligns with the state’s goal of achieving net-zero emissions by 2047. The policy provides balanced incentives and fosters an investment-friendly environment, setting the stage for a clean energy revolution in Andhra Pradesh.

Minister Kumar also pointed out that while the YSRCP government’s previous approach had deterred investors, the current administration is welcoming investors and ensuring rapid permissions for company establishment. He reiterated that the policy is designed to attract global investments, positioning Andhra Pradesh as a leader in the global energy transition.

The statement concluded by reinforcing the state’s dedication to expediting permissions and facilitating investments, further enhancing Andhra Pradesh’s standing as a prime destination for clean energy ventures. Over the next five years, the state plans to significantly increase its renewable energy capacity, further solidifying its position as a key player in the clean energy sector.

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