- Adani Green Energy Limited clocks 23% EBITDA growth, cements India leadership with 19.3 GW operational capacity
- Khavda emerges as world’s largest renewable energy hub with massive solar, wind & hybrid expansion
- Industry-leading 91% EBITDA margin, strong cash flows and ESG top rankings power momentum
- Battery storage scale-up and global ratings signal next phase of resilient green growth
NE BUSINESS BUREAU
AHMEDABAD, APR 25
In a landmark year for India’s clean energy transition, Adani Green Energy Limited (AGEL) has delivered its highest-ever greenfield capacity addition of 5.1 GW, driving a 23% year-on-year growth in core EBITDA to ₹10,865 crore for FY26. The company’s operational capacity surged 35% YoY to 19.3 GW, reinforcing its position as India’s largest renewable energy player.
The record expansion—1.5 times higher than FY25’s 3.3 GW addition—has been powered by rapid execution across resource-rich sites, particularly at Khavda in Gujarat, now evolving into the world’s largest renewable energy plant.
Robust Financial & Operational Performance
- Energy sales: Up 34% YoY to 37,567 million units
- Revenue from power supply: Rose 22% to ₹11,602 crore
- EBITDA: Increased 23% to ₹10,865 crore
- EBITDA margin: Maintained an industry-leading 91%
- Cash profit: Grew 11% to ₹5,399 crore
The growth is underpinned by advanced renewable technologies, superior plant performance, and consistent overachievement of power purchase commitments, with generation touching 106% of annual PPA targets.
Khavda: The Global Benchmark in Clean Energy
AGEL’s flagship Khavda project in Gujarat is rapidly scaling into a 30 GW ultra-mega renewable park spread over 538 sq km—nearly five times the size of Paris.
- Operational capacity at Khavda has already reached 9.4 GW
- FY26 additions include 2,974 MW solar, 683 MW wind, and 956 MW hybrid capacity
- Deployment of bifacial solar modules, robotic cleaning, and 5.2 MW wind turbines is setting new global efficiency benchmarks
On the storage front, AGEL installed 1,376 MWh of Battery Energy Storage Systems (BESS) at Khavda—among the largest single-location deployments globally—with a target of 10,000 MWh by FY27.
Leadership Speak
“FY26 was a landmark year in Adani Green’s history. The company on the back of robust project and operational excellence, commissioned 5.1 GW of greenfield capacity, thereby reaching 19.3 GW of total operational capacity. It is the highest greenfield annual capacity expansion globally by any company (outside China). This milestone not only consolidates our leadership position in India’s renewable energy sector but also puts us in a different orbit of execution excellence. Our flagship Khavda project, the world’s largest renewable energy plant, continues to make significant progress. On the battery storage side, we installed 1.4 GWh of capacity in FY26, which is one of the world’s largest single-location BESS deployment and will complement our contract mix to take us closer to building a resilient and future-ready energy ecosystem. Our Pumped Hydro Storage Project (PSP) in Andhra Pradesh is also progressing well. AGEL’s 19,294 MW of operational portfolio will power more than 8.7 million homes and avoid about 36 million tonnes of CO2e emissions annually. The continued recognition of our ESG efforts reaffirms our commitment to sustainable growth and accelerating India’s energy transition,” said Sagar Adani.
ESG & Global Recognition
AGEL’s sustainability leadership continues to gain global validation:
- CareEdge ESG 1+ rating with India’s highest score of 87.3
- JCR BBB+/Stable rating, aligned with India’s sovereign rating
- Ranked among top global green utilities and No.1 in Energy Intelligence rankings
- Achieved top-tier ratings across Sustainalytics, CDP, and FTSE Russell ESG indices
With a target of 50 GW by 2030, AGEL is accelerating India’s decarbonisation journey while building one of the world’s most resilient, tech-driven renewable ecosystems.
