Adani Green Energy Ltd (AGEL), India's largest renewable energy company, has announced robust financial results for the half-year ended September 30, 2025, demonstrating significant growth across key metrics. The company has also shared plans for substantial capacity expansion at its Khavda unit.

Financial Performance

AGEL reported impressive year-over-year growth in its financial indicators for H1 FY26:

The company's EBITDA for H1 FY26 has already surpassed the annual EBITDA for FY23, highlighting the rapid pace of growth.

Operational Highlights

• Capacity Expansion: AGEL's operational renewable energy capacity grew by 49% year-over-year to 16.7 GW, maintaining its position as India's largest renewable energy portfolio.
• Energy Sales: Increased by 39% YoY to 19,569 million units in H1 FY26.
• Greenfield Additions: Added 2.4 GW of greenfield capacity in H1 FY26, representing 74% of the capacity addition achieved in the entire FY25.

Khavda Project Progress and Expansion Plans

AGEL is making steady progress on its ambitious 30 GW renewable energy plant at Khavda, Gujarat. The project, spread over 538 sq km, is set to become the world's largest renewable energy plant. Currently, the operational portfolio at Khavda stands at 7.1 GW of solar, wind, and hybrid capacity.

In a recent conference call update, Adani Green announced expectations to add 17 GW of additional power capacity from its Khavda unit within a 9-month timeframe. This significant expansion plan underscores the company's commitment to rapid growth and its confidence in executing large-scale projects efficiently.

Technological Advancements

The company is leveraging advanced technologies to enhance operational efficiency:

• Deployment of bifacial solar modules and trackers for maximized electricity generation
• Installation of India's largest 5.2 MW wind turbines
• Implementation of waterless robotic cleaning systems for solar modules

ESG Recognition

AGEL's commitment to sustainable practices has earned it recognition in ESG assessments:

• Ranked 1st in India and 7th globally in the renewable energy sector by Sustainalytics
• Honored as 'Energy Transition Company' and 'Energy Company of the Year – Renewables' at the ET Energy Leadership Awards 2025

Management Commentary

Ashish Khanna, CEO of Adani Green Energy, stated, "Having already added 2.4 GW RE capacity in H1 FY26, we're on a firm path to 5 GW capacity addition in FY26 and reaching our targeted capacity of 50 GW by 2030. We're consistently adopting innovative renewable technologies and digitalizing ever more aspects of our business to boost operational efficiency, project execution and safety."

AGEL's strong performance in H1 FY26 and its ambitious expansion plans for the Khavda unit underscore its leading position in India's renewable energy sector and its commitment to driving the country's clean energy transition. The company's focus on technological innovation and sustainable practices positions it well for continued growth in the coming years.

Adani Green Energy Ltd (AGEL), India's largest renewable energy company, has announced strong financial results for the half year ended September 30, 2025, demonstrating significant growth in operational capacity and financial performance.

Key Financial Highlights

• Revenue from power supply increased by 26% year-over-year to ₹6,088.00 crore in H1 FY26
• EBITDA from power supply grew 25% YoY to ₹5,651.00 crore, surpassing the annual EBITDA for FY23
• Cash profit rose 17% YoY to ₹3,094.00 crore
• Industry-leading EBITDA margin of 91.8% maintained

Operational Performance

AGEL's operational renewable energy capacity expanded by a robust 49% YoY to 16.7 GW, reinforcing its position as India's largest renewable energy company. The company added 2,437 MW of greenfield capacity in H1 FY26, representing 74% of the capacity addition achieved in the entire FY25.

Energy sales volume increased by 39% YoY to 19,569 million units in H1 FY26, equivalent to the annual electricity consumption of Croatia.

World's Largest Renewable Energy Project

AGEL is making steady progress in developing the world's largest renewable energy plant at Khavda, Gujarat. The project, spread over 538 sq km, aims to achieve a capacity of 30 GW by 2029. Currently, the operational portfolio at Khavda stands at 7.1 GW of solar, wind, and hybrid capacity.

ESG Leadership

The company's commitment to sustainable growth and ESG practices has been recognized:

• Ranked 1st in India and 7th globally in the renewable energy sector by Sustainalytics' ESG assessment
• Honored as 'Energy Transition Company' and 'Energy Company of the Year – Renewables' at the ET Energy Leadership Awards 2025

Management Commentary

Ashish Khanna, CEO of Adani Green Energy, stated, "Having already added 2.4 GW RE capacity in H1 FY26, we're on a firm path to 5 GW capacity addition in FY26 and reaching our targeted capacity of 50 GW by 2030. We're consistently adopting innovative renewable technologies and digitalizing ever more aspects of our business to boost operational efficiency, project execution and safety."

Future Outlook

With its ambitious expansion plans and focus on technological innovation, AGEL is well-positioned to capitalize on the growing demand for clean energy in India and maintain its leadership in the renewable energy sector.

As the company continues to scale its operations and improve efficiency, investors and industry observers will be watching closely to see if AGEL can maintain its growth trajectory and meet its long-term capacity targets.