Any current/future new fundraising through debt or equity?

For FY '26, Adani Green is targeting to commission 5 GW of capacity, with nearly 95% of this under various sanctions and backed by secured debt tie-ups. The company mentioned refinancing a new construction facility of $1.06 billion with a AA+ rating, having a 19-year tenure aligned with asset cash flows. They stated confidence in their capital management framework to fully fund growth up to 50 GW by 2030 while maintaining strict credit discipline. Debt tie-ups primarily involve domestic sources like REC and PFC. No explicit mention of fresh equity fundraising in the transcript. Overall, the fo

Any current/future capex/capital investment/strategic investment?

FY '26 Capex: Targeting to commission 5 gigawatts of capacity. Approximately 95% of this 5 GW capex is under various sanctions with debt tie-up completed, primarily from domestic sources (REC, PFC). Ongoing execution of large projects like the 600 MW hybrid project at Khavda expected to commission this year. Plans to execute the UP Pumped Storage Project (PSP) over 72 months (6 years). Strategic focus on early and best-in-class execution of projects, with flexibility on revenue strategy (merchant or contracted). Exploring merchant battery storage opportunities, monitoring market arbitrage but

Future growth expectations in sales/revenue/volumes?

Adani Green Energy aims to add 5 GW of renewable capacity annually, targeting 30 GW by 2029 and 50 GW by 2030. For FY '26, they plan to commission 5 GW of capacity, with 95% already sanctioned and debt tied up. Energy sales grew 28% in FY '25 to 28 billion units; revenue from power supply increased 23% to INR 9,495 crore; EBITDA rose 22% to INR 8,818 crore. The company expects similar or better CUF (capacity utilization factor) going forward, aided by operational stabilization and improved execution. They anticipate growth driven by a balanced mix of merchant sales, PPAs, and emerging

Future growth expectations in earnings/operating earnings/profits/EPS?

Adani Green Energy is committed to delivering robust growth, targeting 50 GW capacity by 2030 with a run rate of ~5 GW annual additions. FY25 saw strong financials: over $1 billion EBITDA, 28% YoY increase in energy sales, 23% revenue growth to INR 9,495 crores, and 22% EBITDA increase to INR 8,818 crores. Capex for FY26 includes commissioning 5 GW capacity, with 95% under sanction and debt tied up, supporting revenue growth. Operational improvements and technology deployments have enhanced operational excellence, raising confidence in projected performance. Merchant sales realizations expecte

Current/ Expected Orderbook/ Pending Orders?

Adani Green Energy is targeting 50 GW capacity by 2030. Currently, 14.243 GW is operational. Around 5 GW capacity targeted for commissioning in FY '26 with 95% sanction and debt tie-up done. The company has approximately 33 GW portfolio comprising contracted PPAs and merchant capacities: - ~30 GW under signed or near-finalized PPAs. - ~3 GW merchant capacity. Approximately 9.6 GW won in the last year; about 6.25 GW of this already signed PPAs, with ~3 GW pending signing but in process. The organization follows timelines as per contract agreements, typically 72 months (6 years) for projec

IN US

Sale is live|00:00:00left today

Adani Green Energy LtdQ1 FY25Power

Adani Green Energy Ltd Q1 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,525P/E: 125.4Market Cap: ₹2.3L CrSector: Power

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Adani Green Energy aims to add 5 GW of renewable capacity annually, targeting 30 GW by 2029 and 50 GW by 2030.
→For FY '26, they plan to commission 5 GW of capacity, with 95% already sanctioned and debt tied up.
→Energy sales grew 28% in FY '25 to 28 billion units; revenue from power supply increased 23% to INR 9,495 crore; EBITDA rose 22% to INR 8,818 crore.
→The company expects similar or better CUF (capacity utilization factor) going forward, aided by operational stabilization and improved execution.
→They anticipate growth driven by a balanced mix of merchant sales, PPAs, and emerging opportunities like storage and hybrid projects.
→Capital management is robust, with long-term refinancing aligned to asset cash flows to support scaled growth.
→The management is confident in achieving projected growth due to technology deployment, operational excellence, and team dedication.

Margin guidance

Category 3

→Adani Green Energy is committed to delivering robust growth, targeting 50 GW capacity by 2030 with a run rate of ~5 GW annual additions.
→FY25 saw strong financials: over $1 billion EBITDA, 28% YoY increase in energy sales, 23% revenue growth to INR 9,495 crores, and 22% EBITDA increase to INR 8,818 crores.
→Capex for FY26 includes commissioning 5 GW capacity, with 95% under sanction and debt tied up, supporting revenue growth.
→Operational improvements and technology deployments have enhanced operational excellence, raising confidence in projected performance.
→Merchant sales realizations expected to maintain with solar around INR 3.6–3.7/kWh (including REC), and wind around INR 6/kWh including ISTS waiver benefits.
→Focus on improving CUF with newer turbine technology, expecting better operational efficiency.
→Capital management aligned with long-term asset cash flows, enabling sustained profitability and earnings growth.

3 more insights locked — sign up free to unlock

Fundraise plans

Yes

→For FY '26, Adani Green is targeting to commission 5 GW of capacity, with nearly 95% of this under various sanctions and backed by secured debt tie-ups.
→The company mentioned refinancing a new construction facility of $1.06 billion with a AA+ rating, having a 19-year tenure aligned with asset cash flows.
→They stated confidence in their capital management framework to fully fund growth up to 50 GW by 2030 while maintaining strict credit discipline.
→Debt tie-ups primarily involve domestic sources like REC and PFC.
→No explicit mention of fresh equity fundraising in the transcript.
→Overall, the focus is on well-structured long-term debt financing to support capacity expansion with no immediate plans disclosed for new equity issuance.

Order book

Yes

→Adani Green Energy is targeting 50 GW capacity by 2030.
→Currently, 14.243 GW is operational.
→Around 5 GW capacity targeted for commissioning in FY '26 with 95% sanction and debt tie-up done.
→The company has approximately 33 GW portfolio comprising contracted PPAs and merchant capacities:
→ - ~30 GW under signed or near-finalized PPAs.
→ - ~3 GW merchant capacity.
→Approximately 9.6 GW won in the last year; about 6.25 GW of this already signed PPAs, with ~3 GW pending signing but in process.
→The organization follows timelines as per contract agreements, typically 72 months (6 years) for project execution.
→The pipeline beyond contracted projects includes merchant, C&I, and CFDs capacities making up roughly 25% of the total portfolio.

Capex plans

Yes

→FY '26 Capex: Targeting to commission 5 gigawatts of capacity.
→Approximately 95% of this 5 GW capex is under various sanctions with debt tie-up completed, primarily from domestic sources (REC, PFC).
→Ongoing execution of large projects like the 600 MW hybrid project at Khavda expected to commission this year.
→Plans to execute the UP Pumped Storage Project (PSP) over 72 months (6 years).
→Strategic focus on early and best-in-class execution of projects, with flexibility on revenue strategy (merchant or contracted).
→Exploring merchant battery storage opportunities, monitoring market arbitrage but no definitive plans announced yet.
→Targeting 30 GW operational capacity by 2029, supported by infrastructure investment and enhanced operational readiness.
→Monitoring and aligning capex with grid evacuation capacities, especially at Khavda, with expected expansions adding 4 GW by June and 7 GW by December 2025.

How does Adani Green Energy Ltd rank vs peers in Power?

Pro feature

1Adani Green Energy Ltd

Rev 2Mar 3

See full Power sector rankings

Want more stocks like Adani Green Energy Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio