ADANIGREEN / Q4-FY24 / claim-ledger

Audit the questions that mattered.

Adani Green Energy · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY24 · 2024-04-30Back to quarter ↗

Questions audited

Answered directly

63%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Mohit Kumar · ICICI Securities

partial

Capacity addition strategy beyond 20 GW and bidding participation.

So, Mohit, yes, you're right, we have 20 gigawatts of locked-in PPAs. We are also actively pursuing C&I customers... In the next two years, you will see significantly higher locked-in contracts... We don't want to participate in simple, plain vanilla PPAs...

Mohit Kumar · ICICI Securities

evasive

Will Adani Green participate in upcoming SECI hybrid/storage bids?

So from a storage et cetera point of view, we may look at specific bids on an opportunistic basis. It's not that we just absolutely won't participate or that we will participate for every single one of them.

Mohit Kumar · ICICI Securities

direct

How is land in Khavda bifurcated among group companies?

We don't bifurcate any land to any of the group companies. We just, Adani Green owns the land, and Adani Green executes the project on that land.

Nikhil Nigania · Bernstein

direct

Guidance for capacity commissioning in FY25 and FY26.

So as I said, Nikhil, we will be, in this coming year, we will plan to add at least about 6,000 MW of greenfield capacity in FY 2025. In FY 2026, we should have a similar or a slightly higher number...

Nikhil Nigania · Bernstein

direct

Challenges from equipment availability (ALMM, transformers).

For us, specifically, we will not have any of those challenges.

Nikhil Nigania · Bernstein

evasive

Reason for not participating in complex tenders like MTRE.

So Nikhil, good question. From our side, basically what we... See, we are not very, very hung up by one particular tender of SECI. What we are playing is a much larger strategic renewable energy game...

Nikhil Nigania · Bernstein

direct

Funding of 50 GW target without equity raise.

Yeah, so to your point, Nikhil, we've done the math... From an equity perspective, the internal accruals that the company makes, and the commitment that the promoters have made by way of subscription of warrants into Adani Green, both of those things put together ensure that 100% of the equity requirements are fully funded to get to 50 GW.

Nikhil Nigania · Bernstein

evasive

Risk of negative solar prices in merchant market.

So Nikhil, India is a very, very different animal... So it would be very wrong to, kind of borrow off from specific commercial experiences in other places in the world versus what the situation in India is.

Ketan Jain · Avendus Spark

evasive

Impact of falling battery prices on pumped storage competitiveness.

The right way to look at it, Ketan, is that there is going to be... There is a demand, right? On one end... So there is a role that pumped hydro storage plays as well. There's a role that battery plays...

Apoorva Bahadur · Goldman Sachs

direct

Timeline for pumped storage project commissioning.

So FY 2027, Apurva, is the first commissioning plan for the 500 MW that we're executing currently.

Apoorva Bahadur · Goldman Sachs

direct

Capital cost per MW for pumped storage.

We are looking at about INR 4.5-INR 5 crore per megawatt.

Apoorva Bahadur · Goldman Sachs

direct

Capital cost for solar and wind per MW.

Solar, we look at capital costs somewhere around INR 5 crore per megawatt, and wind is approximately INR 6.5 crore per megawatt.