Adani Green Energy (AGEL) said its sale of energy increased by 9% YoY at 2,507 million units in Q3 FY23 as against 2,300 million units in Q3 FY22.
The increase in sale of solar energy was backed by 150 megawatt (MW) commissioned in Rajasthan in November 2022 and 140 basis points (bps) improvement in capacity utilisation factor (CUF).The solar portfolio CUF improved by 140 bps to 23.3% primarily backed by integration of SB Energy portfolio and improved plant/ grid availability; 40 bps improvement in plant availability; 30 bps improvement in grid availability and improved solar irradiation.
The firm's wind portfolio CUF was at 14% in Q3 FY23 as against 18.6% in Q3 FY22. Sale of energy in this segment jumped 47% YoY to 300 million units, on the back of capacity increase from 497 MW to 971 MW YoY.
The wind portfolio CUF reduced due to one-off disruption in transmission line (force majeure) for 150 MW plant at Gujarat, which has now been restored fully which is expected to impact 0.1% of the expected annual generation of the overall operational capacity; lower wind speed and plant availability wass lower primarily on account of proactive replacement of transformers carried out in one of the plants.
The 450 MW solar-wind hybrid project commissioned in Q3 FY23 took the total hybrid capacity to 1,440 MW (solar - 1,380 MW and Wind - 355 MW); higher CUF of 32.9% was backed by technologically advanced solar modules and wind turbine generators (WTGs) and high plant and grid availability.
Adani Green Energy (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with overall portfolio of 20.4 gigawatt (GW). The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
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The company's consolidated net profit jumped 49% to Rs 149 crore on 13.3% rise in revenue from operations to Rs 1,459 crore in Q2 FY23 over Q2 FY22.
Shares of Adani Green Energy shed 0.81% to Rs 1,959.25 on the BSE.
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