Adani Green Energy's operating renewable portfolio reached 8,024 MW, the largest in India, after the company's fourth wind-solar hybrid power plant in Rajasthan's Jaisalmer got operational.
"The newly added hybrid power plant has a combined operational generation capacity of 700 MW, with a Power Purchase Agreement at Rs 3.24/kwh for 25 years," the company said in an exchange filing on March 3.
The facility is a combination of 600 MW solar and 510 MW wind plants. With this addition, Adani Green Energy's operating wind-solar hybrid portfolio has increased to 2,140 MW, which continues to be the largest in the world, it said.
The company had operationalised the country's first hybrid power plant of 390 MW in May 2022, followed by the commissioning of the world's largest co-located hybrid power plant of 600 MW in September 2022 and the third hybrid power plant of 450 MW in December 2022. All three assets are located in Jaisalmer, it said.
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The development comes a day after GQG Partners, a US-based global equity investment boutique, announced a portfolio investment worth Rs 15,446 crore in four Adani Group companies, including Rs 2,806 crore in Adani Green Energy. The proceeds of the investment will be used by the promoters to retire debt and for other purposes.
The news set the stock on an uptrend and it was locked in a 5 percent upper circuit at Rs 561.75 in the early trade on March 3.
Also Read: Adani Group firms soar as US-based GQG Partners invests Rs 15,446 crore in portfolio companies
Also on March 2, the Supreme Court directed the Securities and Exchange Board of India (SEBI) to conduct a comprehensive investigation into the crash of Adani Group stock and share its findings within a two-month timeframe.
The move was welcomed by the group, which has seen valuations of some of its companies halved after American short-seller Hindenburg Research accused the conglomerate of stock manipulation and other wrongdoings while also flagging debt concerns.
Also Read: SEBI looking into Hindenburg-Adani allegations, no evidence found yet
SEBI has been tasked with examining potential breaches of the Securities Act, such as share price manipulation and failure to disclose related party transactions.
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