Adani Green Energy Limited (AGEL) has taken a significant step to bolster its financial position by allocating over 1.08 crore equity shares to Ardour Investment Holding Ltd, a member of the company's promoter group. This move has resulted in raising ₹1,199 crore for the renewable energy giant.

Share Allocation Details

According to the company's filing with the stock exchanges, AGEL has allotted 1,08,82,671 equity shares with a face value of ₹10 each at a premium of ₹1,470.75 per share. This allocation was made pursuant to the conversion of an equal number of warrants by Ardour Investment Holding Ltd.

Warrant Conversion and Capital Structure

The share allocation is part of a larger warrant conversion process. In January 2024, AGEL had allotted 6,31,43,677 convertible warrants to Ardour through a preferential allotment on a private placement basis. The current allocation represents a partial conversion of these warrants.

Key points of the transaction include:

• Issue price: ₹1,480.75 per warrant
• Initial subscription: ₹370.19 per warrant (25% of the issue price) paid at the time of warrant allotment
• Balance payment: ₹1,110.56 per warrant (75% of the issue price) paid for the current conversion

Impact on Shareholding

The share allocation has led to changes in the company's capital structure and promoter group shareholding:

Future Warrant Conversions

Ardour still has the option to convert the remaining 1,15,76,193 warrants by July 24, 2025, as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

Equity Status

The newly allotted shares will rank pari passu with the existing equity shares of Adani Green Energy Limited in all aspects, including dividend payments and voting rights.

Operational Performance

In addition to the financial boost, Adani Green Energy has reported significant operational growth:

• Renewable energy capacity increased by 45% year-over-year to 15,816 MW
• Renewable energy sales rose by 42% to 10,479 million units

This strategic move by Adani Green Energy Limited not only strengthens its capital base but also demonstrates the continued confidence of its promoter group in the company's growth prospects in the renewable energy sector. The substantial increase in capacity and sales further underscores the company's expanding footprint in the green energy market.

Adani Green Energy Limited (AGEL), India's leading renewable energy company, has reported significant increases in its operational capacity and energy sales for Q1, showcasing strong growth in its renewable energy portfolio.

Operational Capacity Expansion

AGEL announced an impressive 45% year-over-year growth in operational renewable energy capacity, reaching 15.8 GW in Q1. This substantial expansion underscores the company's growing presence in the renewable energy sector.

Energy Sales Surge

The company reported a remarkable 42% year-on-year increase in energy sales, reaching 10,479 million units. This growth in energy sales highlights AGEL's ability to meet the rising demand for clean energy in India.

New Capacity Commissioning

AGEL successfully commissioned 1.6 GW of new capacity in Q1, contributing to its overall capacity growth. This rapid expansion demonstrates the company's commitment to scaling its renewable energy operations.

Performance Metrics

AGEL maintained strong capacity utilization factors across its diverse portfolio:

Consistent Growth Trajectory

The company has maintained a steady growth in generation with a Compound Annual Growth Rate (CAGR) of 45% over the last five years. This growth includes an increasing proportion of merchant power, indicating AGEL's adaptability to market demands.

ESG Recognition

In addition to its operational achievements, AGEL has garnered recognition for its commitment to Environmental, Social, and Governance (ESG) practices:

• Ranked first in the FTSE Russell ESG score in the Alternative Electricity subsector globally
• Won the title of 'Highly Commended Projects' in the 'Low Carbon Energy Generation' category at the Reuters Global Energy Transition Awards
• Achieved the highest ESG score in the power sector in India in the latest assessment by NSE Sustainability Ratings and Crisil ESG Ratings

Looking Ahead

With its robust performance and a clear focus on expanding its renewable energy portfolio, Adani Green Energy Limited is well-positioned to continue its growth trajectory and contribute significantly to India's clean energy goals. The company's consistent delivery of energy generation above PPA commitments and its strategic capacity additions across solar, wind, and hybrid technologies demonstrate its commitment to driving the nation's energy transition.

As AGEL progresses towards its target of 50 GW operational capacity by 2030, the company's performance in the coming quarters will be closely watched by investors and industry observers alike.