Adani Green Energy Limited (AGEL) has announced its financial results for the fiscal year ending March 31, reporting an increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 7,222 crore, marking a 30 per cent year-on-year (YoY) growth in FY24.

The revenue surged by 33 per cent YoY to ₹7,735 crore, driven by a robust operational performance. The company achieved an EBITDA margin of 92 per cent. Cash profit also increased 25 per cent YoY to ₹3,986 crore. AGEL's operational capacity reached 10.9 GW, representing a 35 per cent YoY increase.

This includes a greenfield capacity addition of 2.8 GW in FY24, which accounted for 15 per cent of India's total renewable energy capacity addition during the period. The company successfully deployed 2 GW out of the 30 GW under construction at Khavda, Gujarat, which is poised to become the world's largest renewable energy project.

This project, spread across 538 sq km, is progressing with AGEL operationalizing 2,000 MW within just 12 months of breaking ground. The sale of energy surged by 47 per cent YoY to 21,806 million units in FY24.

It has revised its renewable energy target for 2030 upwards to 50 GW from the previous 45 GW. This aligns with the company's commitment to contribute towards India's non-fossil fuel capacity target of 500 GW by 2030. In pursuit of its targets, it has initiated the development of 5 GW+ hydro-pumped storage capacity by 2030.

The company kicked off its first project of 500 MW in Andhra Pradesh and has a development pipeline across Andhra Pradesh, Maharashtra, Tamil Nadu, and Telangana. The company has also achieved significant milestones in sustainability and environmental governance. It has been rated 'A-' in the Carbon Disclosure Project (CDP) Climate Change 2023 assessment and 'A' in the CDP supplier engagement rating for 2023.