On Monday Adani Green Energy entered the list of top-10 valued firms as its market valuation zoomed over Rs. 4.22 lakh crore.
Adani Green Energy was incorporated on 23 January 2015 as a subsidiary of Adani Enterprises Limited (AEL) with an objective of dealing in any kind of power or electrical energy using coal, lignite, petroleum products or any other substances, wind energy, solar energy, renewable energy, wave energy, tidal energy, hydro energy, thermal energy.
During the initial days of existence, AGEL and Inox Wind together established a 20 MW capacity wind power project in Lahori, Madhya Pradesh.
In 2017, the company took complete control of the overall solar energy portfolio of Adani Enterprises and got itself listed on the National Stock Exchange of India and Bombay Stock Exchange.
The company operates the Kamuthi Solar Power Project, one of the largest single-location solar power project in the world.
With a portfolio of 13,990 MW of installed capacity and secured PPAs of 20,284 MW, Adani Green Energy Limited (AGEL), part of the Adani group, is one of the largest renewable energy companies in India.
The electricity generated is supplied to sovereign and sub-sovereign promoted entities on the back of 25-year long-term Power Purchase Agreements (PPAs). The portfolio consists of 54 operational projects and 12 projects under construction, says Ventura Securities in a research report.