Bleeding Adani Green blames TN’s discom

Adani Green Energy Ltd, which reported a loss of ₹129 crore for the quarter ended December 2019, blamed Tamil Nadu’s state-owned power purchaser, Tangedco, for its owes.

Adani Green Energy operates 2,495 MW of solar and wind plants in 11 States. Jayant Parimal, CEO, Adani Green Energy, said in a conference call on Tuesday that the company had no issues with payment of dues in any State except Tamil Nadu, where the dues are pending for over eight months.

He said Tangedco owes the company ₹590 crore. The company had to contend with interest costs of ₹290 crore for the quarter, higher than ₹277 crore in the same quarter the previous year. In Tamil Nadu, the company runs the 648 MW Kamuthi solar power plant, which is the eighth biggest single location solar power plant in the world.