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The company's objective is to eliminate carbon emissions from the environment. The Group has disputed the charges made against it by Hindenburg Research and the NGO OCCRP (Organised Crime and Corruption Reporting Project) during the Adani investigation.
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ADANI GREEN Q1 RESULTS
PROFIT ZOOMS 51% YOY TO RS 323 CRORE; REVENUE JUMPS 33% Adani Green Energy's operating capacity climbed by 43% year on year to 8,316 MW, adding 1,750 MW of solar-wind hybrid, 212 MW of solar, and 554 MW of wind power facilities in the past year. Adani Green Energy Ltd. announced a 51% year-on-year (YoY) increase in its consolidated net profit for the quarter ended June 2023 in July 2023. In the same quarter of 2022, the firm made a net profit of 214 crores. Adani Green claimed that energy sales grew 70% yearly to 6,023 million units in Q1 FY24, mainly owing to robust capacity growth. Meanwhile, with continued high plant availability and enhanced solar irradiation, the solar portfolio CUF increased by 40 basis points year on year to 26.9 per cent in the June quarter. The Adani Group has denied any wrongdoing and stated that it has made all necessary disclosures.
THE ADANI GROUP'S REPLIES TO THE ADANI INVESTIGATION CASE ARE AS FOLLOWS: • Responding to the claims with a 413-page response. • It denies wrongdoing and claims to have made all required disclosures. • According to the expert group constituted by the Supreme Court, the Adani Group committed no regulatory violations. • Maintaining that it is entirely compliant with Indian legislation requiring disclosures.
AMIT SINGH, CEO OF ADANI GREEN ENERGY, STATED THAT THE COMPANY'S GOAL IS TO INCREASE RENEWABLE ENERGY CAPACITY TO 45 GW BY 2030 They intend to do this with significant solar, wind, and solar-wind hybrid systems contributions. Round-the-clock solutions with long-term clean storage structures, such as pumped hydro, will be a vital component of our solution mix to enable the integration of renewables in the grid, contributing to a brighter future and demonstrating our commitment to fighting climate change concerns, says Amit Singh, CEO of Adani Green Energy once Adani Green's shares were trading 0.05 percent higher at Rs 1,092.25. AGEL (Adani Green Energy Limited) aims to contribute about 10% of India's planned renewable energy capacity in the country's transition to net zero carbon emissions by 2070. The company's objective is to eliminate carbon emissions from the environment. The Group has disputed the charges made against it by Hindenburg Research and the NGO OCCRP (Organised Crime and Corruption Reporting Project) during the Adani investigation.
ADANI GREEN'S CASH EARNINGS INCREASED BY 55 PERCENT YEAR ON YEAR TO RS 1,051 CRORE Revenue, EBITDA, and cash profit have all increased significantly in the recent year, principally to a capacity expansion of 2,516 MW. According to a regulatory filing, AGEL's continual industry-leading EBITDA margin is driven by best-in-class O&M practices, which allow it to produce increased energy output at lower O&M costs. They want to improve their renewable power capacity to 45 GW by 2030, with solar, wind and solar-wind hybrid technologies playing a significant role. • The TN Power Regulatory Commission has issued a favorable judgment to the renewable energy firm, resulting in a one-time upside of Rs. 103 crore and a recurring yearly upside of Rs. 14 crore. In June 2023, the stock increased by 15.47 percent. During the Adani investigation, the Group said there were no active actions against the Adani promoters regarding this matter before SEBI and that all previous instances before SEBI had been concluded.
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