Adani Green Energy News

We submit herewith the Voting Results of the 9th Annual General Meeting along with the Scrutinizers Report.

We submit herewith the proceedings of the 9th Annual General Meeting of the Company held on June 25, 2024.

Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.

Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.

Intimation of closure of Trading Window

We submit herewith the schedule of Investors/ Analysts.

We submit herewith the intimation of investor meeting pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka through Adani Green Energy Ltd. The projects include two wind farms in Sri Lanka's Mannar town and Pooneryn village with a total capacity of 484 megawatts.

Adani group stocks rebounded up to 6% on Wednesday after an initial 15% decline, triggered by election result disappointment. On Tuesday, all 10 Adani companies faced losses, shedding around Rs 3 lakh crore. Global brokerage Jefferies recommends buying Adani Enterprises, Adani Ports, and Adani Energy Solutions.

Adani Group's offshore bonds dropped 1-2 points post Modi government's failure to secure a predicted victory as per exit polls.

The political development led to a sharp decline in Adani Group companies' stock prices as well, which fell by 20% due to the poor performance of the BJP.

Adani Group Stocks: Shares of all 10 Adani Group companies fell as PM Modi's election results showed unexpected outcome, leading to a 20% crash in Adani Ports stock.

Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.

Adani Group stocks soared up to 16% as exit polls predicted a victory for Prime Minister Narendra Modi. The conglomerate's combined market cap rose by nearly Rs 1.4 lakh crore, reaching Rs 19.24 lakh crore. Adani Power surged 16%, while other group entities also saw significant gains, nearing pre-Hindenburg levels.

Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.

We submit herewith the schedule of meeting with investors/ analysts.

JSW Steel is producing 'JSW Magsure', a zinc-magnesium-aluminium alloy coated steel product, to replace imports in India. The product, which had a demand of around 100,000 tonnes in 2023-24, is expected to reach 250,000 tonnes this year due to renewable energy. The company plans to supply 120,000 tonnes of JSW Magsure domestically and export the remaining 25,000 tonnes.

Adani Group Stocks: Adani Group's FY24 profit surges by 55% to Rs 30,768 crore post Hindenburg crisis. Jefferies favors Adani Enterprises, Adani Ports, and Adani Energy Solutions, citing robust EBITDA growth and strategic initiatives. Adani Ports set to join Sensex on June 24.

Ambassador Hiroshi Suzuki of Japan expressed enthusiasm for collaborating with Adani Group after meeting Chairman Gautam Adani. The meeting, which took place on May 29, included a visit to Mundra Port and Khavda, where Adani Group is developing the world's largest Hybrid Renewable Energy Park with a capacity of 30 GW. Adani expressed gratitude for Suzuki's support and highlighted Japan's interest in India's renewable energy sector. The project, expected to be completed by Adani Green Energy Limited, will cover 538 sq km in Kutch, Gujarat, and require an investment of approximately Rs 1.5 lakh crore.

The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.

The ratings also reflect Ind-Ra's expectation of favourable operational to under-construction book ratio, given the operational capacity of nearly 10.9 GW, and an increase in annual capacity addition targets to 5GW.

Upgradation of Credit Rating to "AA-"

We submit herewith the newspaper advertisement for Notice of 9th Annual General Meeting, intimation of record date and e-voting information.

According to NSE data, promoter entities bought 72.70 lakh shares of flagship company Adani Enterprises worth ₹2,162 crore and 1.39 crore shares of Adani Green Energy worth ₹2,507 crore in multiple tranches between May 10 and May 23.

We submit herewith the Annual Secretarial Compliance Report for the Financial Year 2023-24.

We submit herewith the Business Responsibility and Sustainability Report for the Financial Year 2023-24.

We submit herewith the intimation of the book closure for the purpose of the 9th Annual General Meeting of the Company.

This is to inform that the 9th Annual General Meeting will be held on Tuesday, June 25, 2024 at 10:00 a.m. through Video Conferencing/ Other Audio Visual Means. In this regard, we submit herewith the Notice of the 9th AGM along with the Integrated Annual Report for FY 2023-24.

We submit herewith the Integrated Annual Report of the Company along with the Business Responsibility and Sustainability Report for the Financial Year 2023-24.

The US-based investment firm saw its investment in six Adani group stocks nearly triple in value, from ₹38,500 crore ($4.6 billion) to ₹96,431 crore ($11.62 billion) within a span of roughly seven months. This remarkable 150% increase highlights the investor's confidence in the Adani group and the potential growth of the Indian market.

We submit herewith the newspaper advertisement of the 9th Annual General Meeting.

The unit of Tata Group, one of India’s largest conglomerates, is in talks with lenders including State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank for the loan, people familiar with the matter said, asking not to be identified as the information is private.

We submit herewith the transcript of the Earnings Call on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2024.

Intimation of interaction with investors and presentation

Pursuant to Regulation 32(6) of SEBI (LODR) Regulations, 2015 read with Regulation 162A(4) of SEBI (ICDR) Regulations, 2018, we submit herewith the Monitoring Agency Report for the quarter ended on March 31, 2024.

Pursuant to Regulation 32 of SEBI (LODR) Reg., 2015, we hereby confirm that during the quarter ended on March 31, 2024, there was no deviation or variation in the utilization of proceeds of issuance of Convertible Warrants from the objects of the issue.We submit herewith the Statement of Deviation or Variation for the quarter ended on March 31, 2024, duly reviewed by the Audit Committee.

The Sri Lankan government has greenlit a partnership with Adani Green Energy, led by Indian billionaire Gautam Adani, to construct wind power stations in Mannar and Poonerin. A negotiation committee has been tasked with assessing Adani Green's proposal, culminating in a 20-year power purchase agreement between the parties

Audio Recording of Analysts / Investors Call pertaining to the Audited Financial Results of the Company

Adani Green Q4 Results: Adani Green Energy reported a 70% YoY drop in net profit to Rs 150 crore for Q1 2024. Revenue fell 8.4% YoY to Rs 1,941 crore. EBITDA grew 30% to Rs 7,222 crore with operational capacity up 35%.

Presentation on Operational & Financial highlights