Adani Green Energy has a new subsidiary to focus on renewable energy generation

Adani Green Energy Limited (AGEL) announced the formation of a new wholly-owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), on 28 December.

The new entity, AGE68L, has been incorporated in India, according to a filing made to the stock exchanges on December 28. Adani Green Energy Sixty Eight Limited will operate in the renewable energy sector.

“Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of the Company, incorporated a wholly-owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), on December 28, 2024,” the filing said.

The main objective of AGE68L is to generate, develop, convert, distribute, transport, sell and supply any type of energy or electrical energy using wind energy, solar energy or other renewable energy sources. The authorized capital and paid-up capital of AGE68L is kept at Rs 1,00,000.

Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of the company, holds 100 percent share capital of AGE68L. AGE68L is incorporated in India and registered with the Gujarat Registrar of Companies in Ahmedabad and has not yet commenced commercial operations, the filing added.

Adani Green Energy Limited is a renewable energy company. It develops, owns and operates utility-scale, grid-connected solar, wind and hybrid renewable energy power plants.

Over the past six months, it has commissioned 250 MW of wind capacity, which will pave the way for a significant capacity addition in the second half of the current financial year.

AGEL is developing a massive 30 GW renewable energy plant in Khavda, Gujarat, spread over an area of ​​538 square kilometres. This project is expected to set a global standard for the development of large-scale renewable energy plants.

AGEL currently has an operational renewable energy portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set a goal to achieve 50 gigawatts by 2030.