Gautam Adani’s renewable energy unit quadrupled its net profit for the fourth quarter of FY2023 to Rs 507 crore, up 392.2 per cent from Rs 103 crore in the same quarter previous year. The conglomerate’s profit surged on the back of its focus on deployment of the latest renewable technologies. Adani Green Energy (AGEL) has signed PPAs for 450 MW wind projects and 650 MW solar projects with SECI in FY2023 further strengthening the firm project pipeline. “The sale of energy has increased by 58 per cent YoY to 14,880 mn units in FY2023 primarily backed by strong capacity addition, analytics driven O&M enabling high plant availability and deployment of latest renewable technologies,” the company stated.
