Adani Green Energy Management Guidance Tracker

Target to achieve 45 GW operational capacity by 2030 through solar, wind, and hybrid solutions.

Planned capacity addition for the current financial year, with financial closure for most projects already achieved.

Management guided for 2.8 to 3 GW capacity addition in FY2024, with most commissioning in the second half. Funding is fully secured.

Adani Green reiterated its target to reach 45 GW of renewable capacity by 2030, with a mix of solar, wind, pumped hydro, and batteries.

Management guided for at least 2 GW capacity addition in the next quarter (Q4 FY24), with a target of 2-2.5 GW.

The company aims to scale execution capacity to north of 5 GW from next fiscal year, up from the current ~2.5 GW.

Merchant capacity is expected to grow to low teens (as a percentage of total portfolio) by 2030, from current 3-5%.

Management guided for greenfield capacity addition of at least 6,000 MW in FY25, with a run-rate of 6,000-8,000 MW per year going forward.

Revised the 2030 renewable energy capacity target from 45 GW to 50 GW, with 100% funding locked in from debt and equity.

Management guided for 6 GW of new capacity in FY25, including ~700 MW of wind.

Reiterated 50 GW capacity target by 2030, including 5 GW of pumped storage.

Management committed to adding 6 GW of renewable capacity in FY25, with one-third expected in Q3 and remainder by year-end.

Beyond FY25, the company plans a minimum run-rate of 6 GW per year for capacity additions.

Company expects to add approximately 5 GW of new capacity in FY25, with 4.3 GW coming in Q4. Remaining ~1 GW delayed by 4-5 weeks into early Q1 FY26 due to monsoon and regulatory changes.

Management reiterated the long-term strategic objective of reaching 50 GW operational capacity by 2030, with 85% long-term PPAs and 15% merchant/CNI.

Management confirmed the guidance for next year's capacity addition remains in the 6-8 GW range, with plans to ramp up run rate.

Management targets adding 5 GW of operational capacity in FY2026, with a total CapEx of INR 31,000 crore.

Management confirmed on track to add 5 GW this fiscal, with 1.6 GW already commissioned in Q1.

Capital management framework ensures growth is fully funded for the 50 GW target while maintaining credit discipline.

Management reaffirmed commitment to add 5 GW of renewable capacity in FY26, with 2.4 GW already commissioned in H1.

Management reiterated the long-term target of 50 GW operational capacity by 2030, with steady progress on Khavda and other projects.

Management reiterated target to achieve 50 GW operational renewable capacity by 2030, with 5.6 GW added in calendar 2025.

Management guided for 4.5-5 GW of new capacity in FY27, constrained by transmission evacuation availability.

Management reaffirmed the 50 GW target by 2030, with no current revision despite near-term constraints.

Capital cost for solar projects excluding basic customs duty is expected to be in this range.

All-in capital cost for wind projects, including turbine and balance of system.

CFO guided CapEx in the range of INR 30,000-35,000 crore per year for FY27 and FY28, supporting similar capacity additions.

Management guided for CapEx in the range of INR 35,000-40,000 crore for the next fiscal year to support 50 GW target by 2030.

Plans to commission over 10 GWh of battery storage in FY27, with capital cost of ~INR 1.5 crore per MWh.

Management expects to refinance the $500 million RG-One bond through USD PP market at an effective cost similar to current AGEL Holdco cost of ~9.6%, with no material increase.

CFO expects average portfolio interest rate to come down significantly from 9.4%, with new borrowings at 8.6%-8.9%.

Management expects to take a final investment decision (FID) on a pumped storage project before the end of FY2024, with construction cycle of 27-33 months.

Management confirmed that pumped storage project implementation will begin in the next financial year, with one project in advanced stages.

Targeting at least 5 GW of pumped hydro storage capacity by 2030, with first 500 MW project in Andhra Pradesh under construction and expected commissioning by FY27.

The 61 MW PPA with Google is expected to start supplying power in calendar Q3 2025.

Post full conversion of warrants, equity funding for the 50 GW target is fully secured; debt funding is being arranged progressively.

The 500 MW pumped storage plant at Chitravathi is expected to be commissioned by September 2027.

Strategy to allocate a quarter of portfolio to merchant, C&I, and hybrid contracts, including data center demand.

Management expects to commission 3.5 GWh battery storage this fiscal and more than double that capacity in the coming year.

Management indicated that merchant and C&I capacity will be about 10% of the portfolio mix, up from current ~5%.

Targeting 15% of portfolio from merchant and C&I sales by 2030.

After adding 6 GW, the company expects a run-rate EBITDA in excess of INR 16,000 crore on an installed base of 17 GW.

Management guided for FY26 run-rate EBITDA of INR 17,000 crore, including INR 1,000 crore other income, with power supply EBITDA at INR 16,000 crore.

Going forward, over 90% of capacity additions will be under long-term PPAs, reversing the FY26 anomaly of high merchant exposure.

CFO indicated that after adding 5 GW in FY25, the run-rate EBITDA would exceed ₹15,000 crore.

CEO indicated that a detailed strategy for battery energy storage systems (BESS) will be shared soon, with plans for large-scale deployment.