Adani Green: Adani Green shares jumped before the board meeting, the company made a deal to supply 1799 MW solar energy.
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Adani Green Share Price: Indian stock market is witnessing a rise on the first day of the last trading week of the year. At 11.40 am, the Sensex is trading at 71,357.78 with a rise of 0.35 percent or Rs 250.82. Whereas, Nifty is trading at 21,455.60 with an increase of 0.50 percent i.e. 106 points. Meanwhile, Indian industrialist Gautam Adani (Gautam Adani)’s company Adani Green is witnessing a stormy rise in its shares. The company’s shares jumped by about three percent during trading. At the same time, at 11.52 am, it was trading at Rs 1,558.15 with a rise of 1.63 percent i.e. 25.05. Two main reasons are being given for the rise in the shares of Adani company. Adani Green has also completed a power purchase agreement with Solar Energy Corporation of India for 8,000 MW of solar power. The company announced a deal on December 22 for the final tranche of 1,799 MW solar power supply. Along with this, the company’s board meeting is going to be held today to collect funds.
Adani Green will raise two billion
News agency Bloomberg recently reported that Adani Group company is planning to raise $2 billion by next year. For this, the company is exploring various instruments including private placement of debt, offshore bank loans as well as dollar and rupee bonds. Company CEO Amit Singh said that Adani Green Energy has obtained power purchase agreement (PPA) for 19.8 GW. He said their agreement with SECI is in line with India’s goal of achieving 500 GW non-fossil fuel capacity by 2030. Adani Green aims to exceed this target by providing more than 45 GW of renewable energy, which represents a substantial increase from their current operations. The SECI tender involves setting up 2 GW photovoltaic (PV) cell and module manufacturing facilities. Adani Green, through its subsidiary, Mundra Solar Energy Limited, has commissioned a solar PV cell and module manufacturing plant in Mundra, Gujarat, claiming a capacity of 2 GW per annum. In this, Adani Green holds 26 percent stake through its subsidiary, Adani Renewable Energy Holding.
Adani will invest crores in green energy
India has become one of the leading countries in the field of renewable energy. Dozens of development works are going on in the field of wind energy and solar energy in India. Gautam Adani’s company working in this field has made a big deal. French energy company Total Energies SE has invested US $ 300 million in the clean energy projects of Adani Green Energy Limited. With this, the total investment of global investors in the company has increased to $ 1.63 billion or approximately Rs 14,000 crore. Sources close to the company gave this information. Total had announced last week that it would hold 50 percent stake in the new joint venture firm, while the remaining stake would be held by Adani Green Energy Limited (AGEL). The joint venture will have a portfolio of 1,050 MW, of which 300 MW capacity is already operational, 500 MW capacity is under construction and 250 MW capacity is in various stages of development. These include both solar and wind energy. Total already has 19.7 percent stake in AGEN. It also has another joint venture with AGEEL, called AGE23L. Its portfolio is 2,353 MW.
,Disclaimer: The views and recommendations given above are those of individual analysts or broking companies. We advise investors to do their due diligence and seek advice from certified experts before taking any investment decision.,
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