This capacity will be procured from pumped hydro storage projects and was secured through an e-reverse auction conducted by UPPCL. The LoA stipulates an annual fixed cost of Rs 76,53,226 per MW (taxes extra) for the entire 40-year contract period, commencing from the commercial operation date (COD).
Adani Green Energy is a global leader in renewable energy, developing and operating solar, wind, hybrid, and hydropower plants across India. With the largest operating renewable portfolio in India at 11.7 GW, AGEL is committed to achieving 50 GW of renewable energy capacity by 2030.
The company's consolidated net profit rose 92.2% to Rs 492 crore on a 3.1% increase in sales to Rs 2,286 crore in Q3 FY25 as compared with Q3 FY24.
Shares of Adani Green Energy rose 0.46% to Rs 844.20 on the BSE.