Tuesday, June 28, 2022

Adani Green Energy commissions 50 MW wind power project

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New Delhi: Adani Green Energy has commissioned a 50 MW wind power project on March 5, the company said in a regulatory filing on Friday. With the commissioning of this wind power project, the total renewable energy projects of Adani Green Energy that are operational have reached 2.55 GW.

The Adani Green Energy (MP) Limited 50 MW wind power project has “a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) at Rs 2.65/kWh for a period of 25 years,” the regulatory filing said.

Adani Green Energy commissioned 50 MW wind project in Oct 2019

Adani Green Energy had previously commissioned another 50 MW wind power project in October 2019. In June 2019, the company had won 600 MW of solar-wind hybrid power projects in an auction conducted by the SECI.

The backdrop

The loss incurred by Adani Green Energy widened in the third quarter of FY2019-20 to Rs 129 crore as opposed to Rs 118 crore in the corresponding quarter of the previous financial year. The total revenue from operations, however, went up by 11 percent year-on-year to Rs 504 crore.

“The group has refinanced its earlier borrowings through the issuance of secured senior notes (US$ denominated bonds) and rupee term loans from a bank and financial institutions. On account of such refinancing activities, the group has incurred one-time expenses, aggregating to Rs 173 crore for 9MFY20 (out of which Rs 74 crore incurred during Q3FY20),” the company had said in a statement.

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