Adani Green Energy Limited has incorporated a new step-down subsidiary, Ecothrive Renewables Limited (ERL), on December 26, 2025. The incorporation was executed through Adani Renewable Energy Holding Eleven Limited (AREH11L), which is a wholly-owned subsidiary of the company.

Corporate Structure and Capital Details

The newly incorporated subsidiary has been established with specific capital parameters designed to support its renewable energy operations.

Business Objectives and Operations

Ecothrive Renewables Limited has been established with a clear focus on renewable energy generation and distribution. The main objective of ERL encompasses the generation, development, transformation, distribution, transmission, sale, and supply of electrical energy using various renewable sources.

The subsidiary will operate specifically in:

• Wind energy generation
• Solar energy projects
• Other renewable sources of energy
• Power distribution and transmission services

Regulatory Compliance and Structure

The incorporation follows the requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ERL has been registered with the Registrar of Companies, Gujarat at Ahmedabad, and operates within India's regulatory framework for renewable energy companies.

Strategic Alignment

The incorporation of Ecothrive Renewables Limited aligns with Adani Green Energy's core business activities in the renewable energy sector. The subsidiary structure allows for focused operations in power generation using renewable sources, supporting the parent company's expansion in the clean energy segment. As ERL is yet to commence business operations, it represents a strategic foundation for future renewable energy projects and initiatives within the Adani Green Energy ecosystem.

Adani Green Energy Ltd (AGEL) has secured the top position in Energy Intelligence's Annual Global Top 100 Green Utilities Rankings, marking a significant milestone for India's renewable energy sector. The achievement sees AGEL overtaking major utilities from China and Europe with its 16.7 GW operational renewable capacity, including established players like China's National Nuclear Corp., Spain's Acciona and Iberdrola, and Italy's Enel.

Ranking Methodology and Global Context

The rankings, published by UK-based Energy Intelligence, provide a comprehensive assessment of 100 major power generators that collectively account for over 35% of global electricity generation capacity. Companies are evaluated based on two critical parameters: their renewable energy portfolios and greenhouse gas emissions performance.

AGEL's Renewable Energy Portfolio

Adani Green Energy currently operates with an impressive renewable energy capacity of 16.7 GW. The company has established an ambitious target of achieving 50 GW of renewable capacity by fiscal 2030, which would represent a substantial contribution of over 10% to India's national renewable energy target of 500 GW.

Regional Leadership and Market Position

Energy Intelligence highlighted a notable shift towards Asia in the global green utilities landscape, with Asian companies now accounting for half of the top five positions. Despite this regional strength, European companies continue to dominate the remainder of the top 10 rankings. AGEL stands out as the only Indian company to secure a position in the top five.

The company has demonstrated consistent performance in these rankings, having featured in the top three positions for the past two years. This achievement follows AGEL's third-place ranking in 2024, showcasing the company's steady progress in the global renewable energy sector.

Industry-Wide Emissions Trends

Separately, Energy Intelligence reported significant environmental progress across the ranked companies. Carbon dioxide emissions from companies included in the ranking declined by 6% last year, following a 9% decline in 2023. While the rate of reduction has moderated compared to the previous year, it still exceeds the average annual reductions observed over the past decade, indicating sustained industry commitment to decarbonization efforts.