Adani Green Energy (AGEL), a renewable energy company under the Gautam Adani Group, is expected to increase its operational capacity by over 30% to surpass 50,000 megawatts by 2030. A report released on Monday highlighted this forecast. AGEL aims to become the largest power-producing company in the world by adding 6,000 to 7,000 megawatts of capacity annually.
A brokerage firm, MK, in its report on AGEL, mentioned that the company’s cumulative annual growth rate is expected to exceed 30% by 2030, with electricity sales expected to grow by 35% due to improved capacity utilization.
The report states, “We estimate that AGEL’s operational renewable energy capacity will grow by 31% from the fiscal year 2023-24 to the end of 2030, reaching 56,500 megawatts. This growth will be primarily driven by the development of the Khavda Renewable Energy Park in Gujarat. During this period, the capacity at Khavda is expected to develop up to 30,000 megawatts, up from the current 2,300 megawatts. Additionally, the company is developing renewable energy projects in Rajasthan and working on pumped storage plants (PSP).”
AGEL aims to achieve this target by the fiscal year 2028-29.
AGEL began operations in the fiscal year 2015-16 and reached a capacity of 1,000 megawatts in the first half of 2017-18.