Adani Green Energy Limited has reported robust operational performance for FY26, demonstrating significant growth across key metrics and reinforcing its position as India's largest renewable energy company. The company's operational capacity expanded substantially during the fiscal year, supported by strategic capacity additions and strong operational excellence.

Operational Capacity Expansion

The company achieved remarkable growth in operational capacity, increasing by 35% year-on-year to reach 19,294 MW in FY26. This expansion was driven by the addition of 5,051 MW of greenfield capacity, representing a 1.5 times increase compared to the 3,300 MW added in FY25.

The capacity additions were concentrated in Khavda, Gujarat, where the company operationalized 4,613 MW across solar, wind, and hybrid technologies. Additional solar capacity of 438 MW was commissioned in Rajasthan during the fiscal year.

Energy Generation and Sales Performance

Energy sales demonstrated strong growth, increasing by 34% year-on-year to 37,567 million units in FY26. This growth was directly attributed to the robust capacity addition program implemented during the fiscal year.

Operational Performance Metrics

The company maintained strong operational performance across its renewable energy portfolio. Solar portfolio achieved a Capacity Utilization Factor (CUF) of 24.0% backed by 99.2% plant availability. Wind portfolio delivered a CUF of 26.6% with 95.6% plant availability, while the hybrid portfolio recorded a CUF of 35.2% supported by 98.5% plant availability.

The company continued to exceed its Power Purchase Agreement (PPA) commitments, delivering 106% of the required generation for PPA-based operational capacity. This consistent outperformance demonstrates the reliability and efficiency of the company's renewable energy assets.

Battery Energy Storage System Development

A significant milestone was achieved with the operationalization of 1,376 MWh of Battery Energy Storage System (BESS) capacity in Khavda, representing one of the world's largest single-location BESS deployments. The company has outlined plans to expand BESS capacity to over 10 GWh by FY27, with a contract mix comprising 75% long-term PPAs and 25% merchant and commercial opportunities.

Recognition and Awards

The company received several prestigious recognitions during FY26, including the CareEdge ESG 1+ rating with a score of 87.3, indicating top-tier ESG risk management. Adani Green Energy was ranked number one in Energy Intelligence's Annual Global Top 100 Green Utilities Rankings for 2025 and secured the top position in India rankings by Sustainalytics. The company also won the 2025 CII Performance Excellence Awards for operational excellence.

Future Growth Trajectory

With 19,294 MW of operational capacity, the company's portfolio is positioned to power more than 8.7 million homes and avoid approximately 36 million tonnes of CO2e emissions annually. The company maintains its target of reaching 50 GW operational capacity by FY30, supported by secured resource-rich sites across Gujarat and Rajasthan for solar, wind, and hybrid development, as well as hydro pumped storage projects across multiple states.

Adani Green Energy has announced that its wholly-owned subsidiary, Adani Renewable Energy Middle East Ltd (AGEL UAE), has executed a Joint Venture Agreement with Minerva Holding RSC Ltd for renewable energy development in India. The agreement was signed on April 08, 2026 at 11:50 p.m. IST for Minerva Renewables Holding RSC Limited.

Joint Venture Structure and Ownership

The partnership establishes a comprehensive framework for renewable energy project development across India through a structured joint venture arrangement. The collaboration involves EPointZero Holding RSC Ltd, the energy and infrastructure arm of International Holding Company PJSC (IHC Group), UAE's largest listed company with market capitalization over US$ 230.00 billion.

Governance and Board Structure

The joint venture incorporates a balanced governance framework that reflects the strategic interests of both parties. The board composition ensures appropriate representation from both partners in operational and strategic decision-making processes.

Strategic Partnership Framework

The collaboration between Adani Green Energy and Minerva Holding creates opportunities for enhanced project development capabilities in India's growing renewable energy sector. The joint venture is designed for development, construction and operation of renewable energy projects in India, leveraging the combined expertise of both organizations.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreement does not involve any related party transactions, and neither party holds existing shareholding in the other entity prior to this joint venture arrangement.

This strategic partnership positions both companies to capitalize on India's renewable energy expansion opportunities through their combined operational capabilities and international expertise in the renewable energy sector.