Adani Green Q1 profit rises 20% as operating renewable capacity tops 20 GW

Adani Green Energy reported June-quarter profit of ₹845 crore, up from ₹713 crore a year earlier, while power-sales revenue rose nearly 30% to ₹4,280 crore. The company has shifted 4 GW of merchant projects to contracted supply for Adani Energy Solutions.

— Source publishedWed, 22 Jul, 2026, 20:18 IST·First seen Wed, 22 Jul, 2026, 20:27 IST·Source Mint · Companies

What happened

Adani Green Energy · Adani Green’s June-quarter profit rose nearly 20% to ₹845 crore as operating renewable capacity crossed 20 GW. It shifted 4 GW of merchant

Key facts

  • Q1 profit: ₹845 crore, up from ₹713 crore year-on-year
  • Power-sales revenue: ₹4,280 crore, up nearly 30% year-on-year
  • Power-supply EBITDA: ₹4,122 crore, up about one-third
  • Operating renewable capacity: 20.1 GW as of 30 June
  • Khavda capacity: 9.5 GW; planned site capacity: 30 GW by 2029
  • AESL power-supply pact: 4 GW
  • BESS capacity: 3.5 GWh; target: over 10 GWh by fiscal year-end
  • Renewable capacity target: 50 GW by 2030
  • NSE share price: ₹1,472, down 4.5%

Why this matters

The transfer of 4 GW of merchant projects to contracted supply for Adani Energy Solutions strengthens intra-group offtake integration and may create a more bankable platform for additional renewable capacity expansion.

What to watch

  • New corporate or utility PPAs for the remaining merchant portfolio.
  • Quarterly energy-sales growth versus capacity additions, indicating utilization and realization trends.
  • Interest-rate movements and bond-market access affecting renewable-project financing.
  • Transmission approvals or delays affecting renewable evacuation.
  • Large retailers, logistics operators or mall owners announcing renewable-power procurement agreements.
  • Watch whether Adani Green converts additional merchant projects into long-duration power-purchase agreements.
  • Track commissioning pace, plant utilization, transmission connectivity and curtailment levels across the 20.1 GW portfolio.
  • Monitor debt, refinancing costs, operating cash flow and capital-expenditure guidance as capacity expansion continues.
  • Assess whether Adani Energy Solutions' contracted offtake creates broader group-level cross-selling into commercial and industrial power customers.