The Gautam Adani-led company currently has 14 gw of projects that are operational, awarded and under implementation. Adani Green reported consolidated net profit of Rs 21.75 crore in the June quarter, as against a loss of Rs 97.44 crore in the same quarter a year ago. The company reported a 30% year-on-year increase in total income at Rs 878 crore in the first quarter of 2020-21.
“We have commissioned a 50 megawatts solar plant in Rawra, in Rajasthan in this (April-June) quarter; with this our operational capacity is 2,595 mw. We are in the final leg of the acquisition of 205 mw operational solar power asset from Essel Group,” Vneet S Jaain, managing director and chief executive officer, told reporters on Friday.
The company bagged an 8 gw solar bid in Q1FY21 for a project that involves $6 billion investment. The investment will create 400,000 direct and indirect jobs, and the renewable energy generated will displace 900 million tonnes of carbon dioxide.
The company said it had zero operational disruption during COVID-19 pandemic, and construction activity has resumed in phases. The ministry of renewable energy has given an extension in the deadline for the period of five months from March 25, 2020 to all renewable projects under implementation, therefore, there would be negligible resultant impact on the construction activities as well.
Last month, Mercom Capital group, in a report commissioned by and is licensed to the Adani Group, said that Adani Green ranked among the largest developers of solar power in the world.