Adani Green Energy (AGEL) is making waves in the stock market as it continues to rally for second straight day and the shares jumped over 3% on Wednesday, January 15, following a 13.16% rise on Tuesday, January 14. There are many reasons that’s powering the rally. These include Q3 growth, new order wins and also optimism about potential positive news flow once US President-elect Donald Trump takes charge.
Adani Green Energy: Performance in Q3 FY25
With a series of developments in its portfolio, the company announced its operational update for 9M FY25. The company reported a 37% YoY growth and also its renewable capacity grew substantially, with greenfield additions including 2,693 MW of solar and 438 MW of wind capacity.
Some of the significant projects include 2,113 MW of solar capacity in Khavda and 580 MW in Rajasthan, along with 438 MW of wind power in Khavda.
Aldo Read: Adani Green posts 37% YoY increase in operational capacity at 11,609 MW for 9MFY25
Adani Green Energy: Commissioning of wind power
Furthermore, this surge in the stock price is followed by the recent announcement by the company’s successful commissioning of a 57.2 MW wind power component. The company in a regulatory filing on January 14 said, “Adani Renewable Energy Forty Eight Limited, a step-down subsidiary of Adani Green Energy Limited (“AGEL”) has commissioned a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat. With commissioning of this plant, AGEL’s total operational renewable generation capacity has increased to 11,666.1 MW.”
Adani Green Energy: Power purchase agreement with MSEDCL
In another development, AGEL signed a Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply 5 GW of solar power for the next 25 years.
Market buzz about Gautam Adani getting a clean chit
There is also a strong market buzz about Gautam Adani, his nephew Sagar Adani and the other Adani officials getting a clean chit against the bribery allegations levied by US Court once US President-elect Donald Trump takes charge. The buzz has been a sentiment positive for the Adani Group stocks and the prices of the shares of the Group have seen significant upmove in recent times. However, there is no official confirmation and it is just a market rumour.
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