Adani Green Energy Ltd. (AGEL), a part of the Adani Group, announced that the sale of Energy for Q3 FY21 increased by 31% YoY on the back of capacity addition of 530 MW and improved Solar CUF. Also, - Solar CUF increased by 80 bps YoY at 20.8% in Q3 FY21 with 80 bps improvement YoY in Plant availability at ~ 100% and consistent Solar irradiation.

Meanwhile, wind CUF decreased by 200 bps YoY at 18.9% in Q3 FY21 due to lower wind speed (4.9 v/s 5.6 meters/sec YoY) although well compensated by 630 bps improvement in plant availability at 94.8% Q3 FY21. Wind CUF has improved by 30 bps for 9M FY21.

Revenue from power supply in Q3 FY21 increased backed by added capacities and improved solar CUF.  EBITDA from power supply in Q3 FY21 increased backed by improved revenue performance and optimization of O&M cost.  EBITDA margin from power supply in Q3 FY21 improved by ~ 300 bps to 90% backed by improved plant availability leading to higher energy generation and optimization of O&M cost.

Commenting on the quarterly results of the Company, Gautam Adani, Chairman, Adani Green Energy Limited said, "Over the past year we have accelerated our commitment to the Renewable Energy Space based on the new data that has become available. I fundamentally believe that the targets of renewable power will continue to be raised given the need as well as the affordability. We recognize that we have an opportunity to play a leading role on behalf of our nation as India establishes one of the fastest rates of decarbonization ever witnessed. Our partnership with Total and their experience puts us on an even stronger platform as we further expand on our sustainability ambitions."

Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said, "Adani Green Energy has emerged as a leader in Operational Performance of Solar & Wind plants across India as demonstrated by the 'Leadership in Performance' award conferred to our plants at CII Performance Excellence Awards 2020.

AGEL has also continued its rapid capacity building despite the ongoing pandemic adding 700 MW in YTD FY21 with commissioning of 475 MW and 225 MW added through inorganic opportunities.

This has been possible with our thrust on 3 years of advance resource planning ensuring commissioning of plants ahead of schedule and we will continue to rapidly move towards our goal to commission 25 GW by 2025.