Adani Green aims for 50 GW capacity by 2030

New Delhi: Adani Green Energy Ltd, the renewable energy firm of billionaire Gautam Adani’s conglomerate, is expected to clock an operational capacity CAGR of over 30 per cent to reach more than 50 GW of capacity by 2030, a report said on Monday.

AGEL is targeting 6-7 GW of capacity additions annually to become the largest renewable energy producer in the world. Initiating coverage of AGEL, brokerage Emkay said the firm’s renewable capacity would see more than 30 per cent compound annual growth rate (CAGR) from now till 2030 while improved capacity utilisation will drive a power sales CAGR of about 35 per cent.

“We expect AGEL to clock operational renewable energy (RE) capacity CAGR of 31 per cent to 56.5 GW (including input solar for PSP) during FY24-30E, as the Khavda supersite is developed up to 30 GW verses about 2GW as of FY24-end (now at 2.3GW), coupled with expansion in other assets like Rajasthan and PSP (pumped storage plants),” it said.