Adani Green Energy posts 70% YoY jump in Q1 energy sales

Adani Green Energy said the addition of 1,750 MW solar-wind hybrid, 212 MW solar, and 554 MW wind power facilities raised its operating capacity in the first quarter of FY24 by 43% year over year to 8,316 MW. The business reported in a regulatory filing that its energy sales climbed by 70% year over year to 6,023 million units during the quarter, supported by significant capacity addition as opposed to 3,550 million units in Q1FY23.

The solar portfolio's Capacity Utilisation Factor (CUF), which was supported by 99.7% plant availability, was at 26.9%, up 40 basis points year over year. The development of 212 MW in Rajasthan led to a 6% rise in solar energy sales to 2,925 million units. According to the report, better solar irradiation and sustained high plant availability supported the improved CUF performance. 

The CUF for Adani Green's wind portfolio was 38.7%, down 830 basis points year over year. The substantially lower wind speed (which was greater previous year) and relatively lower plant availability were the main causes of the decrease in CUF. Additionally, according to Adani Green Energy, Gujarat's wind turbine generators were turned off as a safety precaution during the Biparjoy storm. Energy sales were up 34%, according to the report, as a result of a capacity rise from 647 MW to 1,201 MW YoY. 

The hybrid portfolio's CUF is strong at 47.2% and is supported by 99.1% plant availability. According to the firm, the sale of hybrid energy surged by 1,546 percent as a result of Rajasthan adding 1,750 MW of capacity and CUF improving by 380 basis points. New facilities with cutting-edge wind turbines and solar panels, such as bifacial modules and horizontal single axis trackers, were the cause of the enhanced CUF performance.