Adani Green Profit Leaps 60% Amid Aggressive Renewable Capacity Expansion

• Adani Green’s Q1 profit jumps 60%, fueled by rapid capacity growth and rising spot-market sales; storage build-out next as firm targets 50 GW by 2030.

Adani Green Energy Ltd. (AGEL) reported a robust start to its fiscal year, with first-quarter net profit surging 60 % to ₹7.13 billion (US $82 million). The jump reflects an “unprecedented” build-out of generation assets and sharply higher electricity sales, according to the company’s exchange filing for the three months ended June.

Capacity momentum powers earnings

Over the past 12 months AGEL added 45 % more capacity, lifting its fleet to 15.9 GW—already the largest owned by an Indian renewables player. That expansion translated into a 42 % year-on-year increase in electricity sold, with solar arrays contributing the bulk of output. The accelerated roll-out underscores Chairman Gautam Adani’s ambition to position the group at the forefront of India’s clean-power transition.

More power headed for the spot market

Management is also steering a larger slice of generation toward the open market. Roughly 17 % of operating projects now serve power exchanges or direct industrial clients, and AGEL expects that share to climb to 25 % by 2030. Selling into the spot market gives the company exposure to price spikes and diversifies revenue beyond long-term feed-in tariffs.

50-GW goal and the storage challenge

AGEL’s road map calls for 50 GW of installed capacity by 2030, more than tripling its current fleet. Solar will remain dominant—presently 70 % of capacity—but the developer is ramping up wind and hybrid projects to deliver firmer generation profiles. A critical next step is the build-out of large-scale storage. The 2030 plan earmarks 5 GW of pumped-hydro assets, while battery systems are being evaluated to provide round-the-clock clean power and compete head-to-head with coal plants.

Chief Executive Officer Ashish Khanna said the group is “on track” to hit its decade-end targets. “Battery storage is a key part of our future strategy,” he added, signalling that capital deployment will increasingly shift from pure generation to grid-balancing technologies.

Outlook

With India’s electricity demand rising and policy momentum favouring renewables, AGEL’s aggressive growth strategy and widening sales channels appear well-timed. Investors will watch closely how swiftly the company can layer in storage to safeguard margins as renewable penetration—and price volatility—intensifies.