Here’s a rewritten version of the sentence:Gautam Adani thanked the Women Envoys for their visit to the Adani Renewable Energy Park, showing appreciation for their interest in the facility.
On International Women’s Day, Adani Group Chairman Gautam Adani expressed his gratitude for hosting nine women ambassadors and high commissioners from nine countries at the Khavda Adani Renewable Energy Park and Mundra’s Special Economic Zone (SEZ) in Gujarat, India. The visit showcased the significant role of women in driving large-scale projects, including Adani Green Energy’s development of the world’s largest clean energy plant. The delegation from countries such as Indonesia, Lithuania, Moldova, Romania, Seychelles, Lesotho, Estonia, and Luxembourg were impressed by the scale and strategic thinking behind the projects.
The envoys praised the contribution of local women professionals and engineers, highlighting their crucial role in shaping India’s industrial, economic, and energy transformation. Ambassador of Indonesia to India, Ina Krisnamurthi, noted that the visit was “enlightening and important” for understanding India’s efforts to advance towards its zero-emissions goals. Ambassadors from Lithuania and Seychelles emphasized the importance of sustainable energy and cooperation between countries to achieve a “win-win collaboration”.
The visitors were also impressed by the technology and scale of the projects, with Ambassador of Lithuania, Diana Mickeviciene, commenting on the “sense of mission” and “high-tech” features. Estonia’s Ambassador, Marje Luup, appreciated India’s progress in renewable energy and acknowledged the challenges faced by her country due to limited sunlight. The visit aimed to foster cooperation and knowledge-sharing between countries, with a focus on sustainable energy solutions.
Adani Group’s innovative ventures in the energy sector and industrial development have left a lasting impression on the women dignitaries from around the world.
A delegation of nine women Ambassadors and High Commissioners from various countries, including Indonesia, Lithuania, Moldova, Romania, Seychelles, Slovenia, Lesotho, Estonia, and Luxembourg, visited Khavda and Mundra in Gujarat, India, to witness the renewable energy projects of Adani Group. The envoys were impressed by the scale and vision of the projects, which are aimed at promoting sustainable energy and contributing to India’s growth.
The group visited the world’s largest renewable energy park, Adani Green Energy, and India’s largest commercial port, Adani Ports and SEZ Limited, in Mundra. They were particularly impressed by the presence of women professionals and engineers in key roles, highlighting India’s growing role in empowering women in various sectors.
The envoys praised Adani Group’s efforts in promoting renewable energy and sustainable development, with some expressing their intent to learn from India’s experiences in implementing large-scale renewable energy projects. Many of them also emphasized the importance of cooperation between their countries and India to foster cleaner and greener solutions for the region and beyond.
The delegation also visited the Adani Group’s state-of-the-art solar manufacturing plant, which is a key part of India’s push for self-reliance in renewable energy. The visit was seen as a significant opportunity for the envoys to learn about India’s progress in promoting renewable energy and sustainable development, and for India to showcase its achievements in these areas to a global audience.
Adani Group’s remarkable achievements in the energy sector and industrial development have left a strong impression on the women diplomats.
A delegation of women Ambassadors and High Commissioners from 10 countries, including Indonesia, Lithuania, Moldova, Romania, Seychelles, Slovenia, Lesotho, Estonia, and Luxembourg, visited India to learn about the country’s progress in clean energy and sustainable development. The envoys were impressed by the scale and scope of Adani Green Energy’s projects, particularly the world’s largest clean energy plant in Rajasthan, which is expected to play a critical role in meeting India’s rising energy demands.
The envoys were particularly impressed by the significant role of women in the country’s industrial, economic, and energy transformation. They visited various facilities, including a solar panel manufacturing plant, a wind energy project, and a commercial port, and met with women professionals and engineers working in these sectors. The envoys praised the Adani Group’s commitment to sustainability and the importance of women’s empowerment in driving India’s development.
The Ambassador of Indonesia to India, Ina Krisnamurthi, stressed that Adani’s investments in her country have been crucial for cooperation and the development of cleaner and greener solutions. The Ambassador of Lithuania, Diana Mickeviciene, appreciated the scale and sense of mission demonstrated by Adani group, citing the strategic placement of the project and the high-level technology used.
The envoys also commended the company’s commitment to sustainability, highlighting the example of the 30 GW solar and wind energy project in Khavda, which is expected to meet India’s growing energy demands with clean, affordable, and sustainable power. The visit was seen as a learning experience for the envoys, who were inspired by the project’s scale and the role of women in shaping the country’s future.
Adani Green exceeds 12,000 MW renewable energy capacity milestone.
Adani Green Energy, India’s largest renewable energy utility, has achieved a significant milestone by surpassing 12,000 megawatts (MW) of renewable energy capacity. The company, a subsidiary of the Adani Group, has continued to grow its portfolio through a series of successful power projects and additions.
The latest addition to its portfolio is a 275 MW solar power project situated in Khavda, Gujarat. This project, which was successfully operationalized, has taken Adani Green’s total renewable energy capacity to 12,258 MW. The company’s rapid growth in renewable energy capacity is a testament to its commitment to contributing to India’s goal of reducing carbon emissions and achieving sustainable development.
Adani Green’s diversification into renewable energy began in 2015, and since then, it has expanded its business to operate in solar, wind, hydro, and thermal power segments. The company’s renewable energy portfolio includes solar, wind, and hydro power projects across India, which are expected to reduce greenhouse gas emissions and contribute significantly to the country’s clean energy goals.
The company’s expansion into the renewable energy sector has been fueled by its ability to develop and operate large-scale projects efficiently and cost-effectively. This has enabled Adani Green to attract investors and partners, thereby facilitating further growth and development of its renewable energy portfolio.
The achievement of this milestone is a significant step forward for India’s renewable energy sector, which is already the third-largest in the world. With Adani Green’s huge installation, the country’s total renewable energy capacity has increased, further solidifying its position as a leading player in the market.
However, the company’s commitment to sustainability and environmental responsibility extends beyond its business operations. Adani Green has also launched initiatives to promote sustainability, such as the adoption of green fuels, water conservation, and reduction of carbon emissions.
In conclusion, Adani Green’s achievement of surpassing 12,000 MW renewable energy capacity is a testament to its dedication to the development and operation of clean energy projects. As India continues to drive forward with its ambitious energy goals, companies like Adani Green will play a crucial role in achieving a low-carbon future.
Adani Green Energy secures massive 1,250 MW energy storage project in Uttar Pradesh
Adani Saur Urja (LA) Limited, a subsidiary of Adani Green Energy, has secured a major contract from Uttar Pradesh Power Corporation Limited (UPPCL) to provide 1,250 MW of energy storage capacity through Pumped Hydro Storage (PSP) projects. The contract was secured through an e-reverse auction and will have an annual fixed cost of Rs 76,53,226 per MW per year, excluding taxes. The agreement will be effective for 40 years from the commercial operation date (COD) of the project.
The project, Panaura PSP, will be located in Sonbhadra district of Uttar Pradesh and is expected to be completed within the next six years. This project is aligned with India’s clean energy goal, which requires the development of large-scale energy storage projects to integrate renewable energy into the grid and provide round-the-clock renewable energy.
As a leader in the field of energy storage solutions, Adani Green Energy is committed to adding over 5 GW of hydro PSP capacity by 2030. The company has already started construction of its hydro-pumped storage projects in Andhra Pradesh, Maharashtra, and Andhra Pradesh.
Adani Saur Urja’s success in securing this contract is a significant step forward in achieving India’s clean energy goals and demonstrating the company’s commitment to sustainable energy solutions. The Pumped Hydro Storage technology will help provide grid stability, peak shaving, and flexibility in energy management, making it a critical part of a robust and resilient energy infrastructure.
Adani Green plans to refinance its $1.1 billion loan in rupees, following a potential deal with the US Department of Justice
Adani Green Energy, a leading renewable energy company in India, is seeking to recast a $1.1 billion loan from its creditors in Indian rupees, rather than US dollars, as per a report by Bloomberg. This move is attributed to the recent changes in the US Department of Justice’s (DOJ) stance on foreign currency manipulation, which has led to increased uncertainty over the use of US dollars in international transactions.
The corporation, backed by the Adani group, is one of India’s largest and most prominent renewable energy companies, with a focus on solar and wind power. The company has been successful in expanding its portfolio to include assets in various parts of the country, making it a significant player in the Indian energy landscape.
The proposed recasting of the loan is seen as a move to reduce the company’s exposure to foreign exchange risks and to adapt to the evolving economic landscape. With the recent changes in the US government’s stance, there has been increased scrutiny of the use of foreign currency in international transactions. This has led to uncertainty regarding the reliable use of US dollars for settling foreign debt.
By recasting the loan in Indian rupees, Adani Green Energy is seeking to avoid potential disruptions caused by changes in the exchange rate, ensuring a more stable financial footing. The move will also enable the company to better navigate the risks associated with currency fluctuations, taking a more proactive approach to managing its foreign exchange exposure.
While the move may seem prudent in the current economic environment, it may also have implications for the company’s financial performance in the coming quarters. Depending on the exchange rate movements, the company’s bottom line may be impacted. Investors are thus awaiting clarity on the development, as it would be crucial for them to assess the implications on Adani Green Energy’s financial performance and its ability to navigate the changing market dynamics.
It is worth noting that Adani Green Energy’s decision to recast the loan in Indian rupees is seen as an adaptive measure, demonstrating the company’s ability to adapt to emerging challenges in the global financial market. As the company looks to expand its operations and grow its business, the decisive move will ensure a more stable financial footing, considering the shifting global economic landscape.
The success of Adani Green’s Sri Lanka project hangs in the balance, pending a favorable tariff agreement.
Sri Lanka and India’s Adani group are in a dispute over the terms of a $442 million renewable energy project in Sri Lanka. The project, approved by Sri Lanka’s Board of Investment in 2023, involves a 484 MW wind farm in Mannar and Poonerin. Adani Green Energy was quoted 8.26 cents per kWh for power supply over 20 years, but Sri Lanka wants to renegotiate the tariff, citing that it is too high. The government of Sri Lanka has issued a letter of intent, but no power purchase agreement (PPA) has been signed. Sources indicate that Sri Lanka wants the tariff to be below 7 cents a unit.
The dispute has sparked controversy, with environmentalists filing a public interest litigation (PIL) against the project in 2024, citing concerns about the tariff leading to losses for Sri Lanka and burdening its consumers. The PIL also mentioned that a Technical Evaluation Committee had suggested a tariff of 5 cents per kWh.
Adani Green Energy has denied reports that the project has been canceled, stating that the Sri Lankan Cabinet’s decision to re-evaluate the tariff is part of a standard review process. The company remains committed to investing $1 billion in Sri Lanka’s green energy sector.
To renegotiate the tariff, the Cabinet papers of the previous regime need to be revoked. Industry experts believe that the project will eventually go through once the tariff terms are amicably resolved. The Adani group has not responded to queries about the project’s status and terms. The dispute highlights the strategic diplomatic stakes involved in the venture, with both parties reluctant to give up on the project.
Adani Enterprises and InterGlobe Aviation’s Q3 earnings take a hit as the rupee’s depreciation leads to increased expenses.
Over 10 companies from the BSE500 index reported a combined foreign exchange loss of approximately ₹3,000 crores in the December quarter. This loss is attributed to the depreciation of the rupee, which fell by 2.2% in the quarter, the biggest drop in nine quarters. As a result, companies such as InterGlobe Aviation, Adani Enterprises, UPL, Sun Pharmaceutical Industries, and JSW Infrastructure reported significant forex losses ranging from ₹1456 crore to ₹159 crore. However, Zydus Lifesciences, a generic drugs manufacturer, reported a forex gain of ₹183 crore, a four-fold increase from the previous quarter, due to the strengthening of the US dollar.
InterGlobe Aviation’s CFO, Gaurav M Negi, stated that the company’s exposure to foreign exchange risk is primarily due to its lease liability and maintenance obligations denominated in US dollars, resulting in a significant loss. To mitigate these losses, the company has taken steps to hedge part of its foreign currency outflow, which has already yielded a gain of ₹59 crore in the current quarter. Adani Enterprises and Adani Green Energy also reported forex losses of ₹296 crore and ₹307 crore, respectively, in Q3 FY25.
The decline in the rupee has had an adverse impact on the profitability of these companies, and the loss is likely to continue in the coming quarters. However, some companies are finding ways to mitigate these losses by taking steps such as hedging and diversifying their foreign currency exposure. Overall, the depreciation of the rupee continues to pose a significant challenge for Indian companies with foreign exchange exposure.
Stay informed: Top companies including UltraTech, United Spirits, Mphasis, Adani Green, Dr. Reddy’s, HPCL, and others are set to release their Q3 results today, keeping you updated on the latest industry news.
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The third-quarter earnings season has kicked off with several major Indian companies releasing their results. On Thursday, January 23, companies like UltraTech Cement, Adani Green Energy, Hindustan Petroleum Corporation, Dr Reddy’s Laboratories, and others released their quarterly earnings. According to analysts, the growth rate of Nifty 50 companies is expected to be single-digit and at best track underlying inflation in the economy.
Some key highlights include:
* UltraTech Cement posted a profit rise of 16.98% to Rs 1,473.51 crore, beating estimates.
* Adani Green Energy reported a 85.16% surge in profit to Rs 474 crore, with a revenue growth of 2.34% to Rs 2365 crore.
* Hindustan Petroleum Corporation (HPCL) reported a profit jump of 471.42% to Rs 3,022.90 crore, missing estimates, with a revenue growth of 0.35% to Rs 1,19,415.27 crore.
* Dr Reddy’s Laboratories reported a profit rise of 15% to Rs 1,341.60 crore, with a revenue growth of 6% to Rs 12,440.60 crore.
* United Spirits reported a profit drop of 4.29% to Rs 335 crore, with a revenue growth of 11.06% to Rs 7,732 crore.
According to brokerage firm InCred Equities, Dalmia Bharat’s volume in 3QFY25 saw a decline of around 1.5% year-on-year (YoY), but the long-term demand outlook remains strong.
Axis Securities also commented on Q3 performance of Hindustan Unilever, saying demand conditions remained weak, with urban growth continuing to remain weak, while rural areas continue to recover.
JM Financial analyzed Persistent Systems’ Q3 performance, stating that the company reported a well-rounded performance with revenue growth and margin expansion.
Adani Green Energy Boosts Renewable Power Portfolio to 11,666 MW with the Addition of its Latest Gujarat Wind Project
Adani Green Energy Limited (AGEL) is India’s largest renewable energy firm, with a total renewable energy capacity of 11,666.1 MW. This was achieved with the commissioning of a 57.2 MW wind power plant in Khavda, Gujarat, its subsidiary Adani Renewable Energy Forty Eight Ltd. This plant is part of a larger wind-solar hybrid initiative. The company’s financials have also seen significant growth, with a 38.8% increase in net profit to ₹515 crore in Q2 FY25 compared to ₹371 crore in Q2 FY24. Revenue rose 27.6% to ₹3,055 crore, while operating profit or EBITDA increased 24.8% to ₹2,272 crore. The company’s capacity utilization factor (CUF) for its solar portfolio was 23.9% with 99.4% plant availability, while the wind portfolio achieved a CUF of 35.7% with 95% availability. The hybrid portfolio, which combines solar and wind power, had a CUF of 42.9% driven by 99.6% plant availability. The company’s leadership principles prioritize innovation and commitment to sustainability in India’s growing renewable energy transition.
Adani Green Reaches New Heights: Operational Renewable Capacity Now Totals 11,666 MW
According to CNBC-TV18 on LinkedIn, Adani Green Energy has expanded its operational renewable capacity to 11,666 MW with the addition of new solar and wind power projects. This milestone marks a significant achievement for the company, which is India’s largest renewable energy company. The expanded capacity includes 9,200 MW of solar power and 2,466 MW of wind power. The company’s renewable energy portfolio now accounts for 23% of India’s total renewable energy capacity.
Adani Green Energy has achieved this milestone through a series of strategic acquisitions and greenfield projects. The company has also made significant investments in grid infrastructure, transmission systems, and energy storage solutions to ensure a stable and reliable supply of renewable energy.
The expanded operational capacity is expected to contribute to India’s ambitious renewable energy targets, which aim to generate 40% of the country’s electricity from non-fossil fuels by 2030. Adani Green Energy’s growth is also expected to create employment opportunities and drive economic development in rural areas where its projects are located.
India to pioneer sustainable development as Adani Green and Swancor form historic partnership to build the nation’s first fully recyclable wind farm.
Swancor Industries and Adani Green Energy (AGEL) have partnered to develop a first-of-its-kind, fully recyclable wind farm in India. The project, located in the state of Gujarat, will feature a capacity of 240 MW and is expected to be operational by 2025. The recyclable wind farm will use innovative turbine designs and materials to reduce its environmental footprint.
The collaboration aims to reduce carbon emissions by 1.4 million tons annually, equivalent to taking 250,000 cars off the road. The project is expected to create over 1,000 local jobs and inject over 2,000 crore (25 billion USD) into the state’s economy. Adani Green Energy, a leading renewables developer, will oversee the project’s construction, while Swancor Industries will provide its expertise in wind turbine design and manufacturing. The joint venture will also promote local supply chain development and community engagement. This partnership marks a significant step towards India’s ambitious goal of reaching 40% non-fossil fuel-based power generation by 2030.
According to sources, Chandrababu Naidu is refusing to take action over Jagan Reddy-Adani bribery allegations until concrete evidence is produced.
Andhra Pradesh Chief Minister N Chandrababu Naidu has said that more proof is needed to take concrete action against bribery allegations involving Adani Green Energy Ltd and the previous YS Jagan Mohan Reddy government. The allegations stem from US Securities and Exchange Commission (SEC) filings, which mention a meeting between Gautam Adani and Jagan Mohan Reddy in 2021, as well as subsequent agreements involving the Solar Energy Corporation of India (SECI). Naidu stated that action will be taken if any wrongdoing is found, but emphasized that concrete proof is needed. He also alleged that the previous Jagan Reddy government had led to a loss of Rs 1.29 lakh crore in the power sector. Naidu’s government has denied any wrongdoing and has promised to take action based on the evidence. The allegations have triggered a political storm in Andhra Pradesh, with opposition parties calling for transparency and accountability from both the state and central governments. Jagan Reddy’s YSR Congress Party has denied any wrongdoing, claiming that there was no direct agreement between the state government and the Adani Group during their tenure.
Adani Group effectuates leadership shake-up at Adani Green Energy and International Energy Division.
Adani Group is undergoing a leadership transition. As of March 31, 2025, Amit Singh, current CEO of Adani Green Energy Limited (AGEL), will step down to become the CEO of the International Energy Business of the Adani Group. This move is aimed at expanding the group’s international presence and leadership in regions like the Middle East and North Africa. Ashish Khanna, current CEO of the International Energy Business, will take over as CEO of AGEL from April 1, 2025. Khanna has 30+ years of experience in renewables, infrastructure, and project management, with international experience. Under Singh’s leadership, Adani Group has been focusing on expanding into international territories, and his expertise will be crucial in driving the group’s goals in the international energy market. The transition marks a key step for the group’s growth and development plans.
Adani Green Energy Unveils AGE68L, Expanding Its Portfolio in Solar and Wind Energy Sectors
Adani Green Energy Limited (AGEL) has established a new subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), to expand its renewable energy portfolio. The subsidiary is focused on generating and distributing energy from wind and solar power. AGE68L is registered in Ahmedabad, Gujarat, and is entirely owned by Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of AGEL. The company has authorized and paid-up capital of ₹1,00,000. Although operational turnover has not begun, the creation of AGE68L demonstrates AGEL’s commitment to renewable energy and its strategy to explore new opportunities in the sector. The subsidiary’s primary objective is to generate, distribute, transmit, and supply energy derived from renewable sources. The initiative aligns with AGEL’s broader vision of advancing clean energy solutions in India.
Adani Green Energy’s CEO to relinquish role, taking on a new position within the company.
Sunil Jain, the CEO of Adani Green Energy (AGEL), will step down from his role to take on a new position within the Adani Group. Jain has been instrumental in the growth and development of AGEL, which has become one of the largest renewable energy companies in India. During his tenure, the company has expanded its renewable energy portfolio and has been successful in securing large-scale projects. Jain’s departure is seen as a strategic move by the Adani Group to promote internal talent and succession planning. The company has not yet announced a replacement for Jain, but it is expected to name a new CEO soon. Jain’s new role within the Adani Group is not specified, but it is likely to be a senior leadership position. His departure is seen as a significant development in the renewable energy sector, and his successor will have big shoes to fill.
Amit Singh to step down as Chief Executive Officer of Adani Green Energy, with Ashish Khanna succeeding him as CEO from April 2025.
Amit Singh, CEO of Adani Green Energy Limited (AGEL), will step down from his position on March 31, 2025, as part of a planned transition. He will take on a new role as CEO of International Energy Business within the Adani Group. Ashish Khanna, current CEO of International Energy Business, will succeed Singh as CEO of AGEL, starting April 1, 2025. This leadership transition is part of Adani Group’s internal planning process to foster sustainable growth and develop leadership talent across its businesses. The move is aimed at ensuring continuity of leadership development and positioning leaders to drive future growth.
Adani Green Energy Takes a Major Leap in Renewable Energy Space with Launch of New Subsidiary
Adani Green Energy, a subsidiary of the Adani Group, has established a new renewable energy subsidiary to further expand its operations in the renewable energy sector. The new subsidiary, Adani Renewable Energy Management, will oversee the development and operation of solar and wind energy projects across the country.
Adani Green Energy has a track record of delivering large-scale renewable energy projects and has successfully operationalized several wind and solar farms. The company has a presence in multiple regions, including Jaisalmer Wind Park in Rajasthan, and Kutch Wind Project in Gujarat. The new subsidiary will allow the company to build on this expertise and expand its reach further.
The company plans to leverage the new subsidiary to develop new renewable energy projects and increase its power generation capacity. Adani Renewable Energy Management will also provide expertise and services to other Adani Group companies to help them expand their renewable energy capabilities. With this expansion, Adani Green Energy is positioned to become one of the leading renewable energy players in India.
Andhra Pradesh approaches the Adani Green Energy project with measured steps, mindful of the controversy surrounding it.
The Andhra Pradesh government, led by N Chandrababu Naidu, is taking a cautious approach regarding the electricity supply from the Adani Green Energy project. The State Cabinet has discussed the power supply agreement between the State Discom and the Solar Energy Corporation of India (SECI), but no decision has been made on the contract. If the State cancels the project, it will have to pay a substantial amount for 25 years, while continuing with the agreement will result in higher electricity costs for consumers. The project aims to supply 7 GW of renewable energy to the State discom over three years. Meanwhile, the Energy Minister has accused the former Chief Minister YS Jagan Mohan Reddy of making poor decisions that led to a power deficit in the State and high electricity costs. The Minister also alleged that the previous regime had cancelled power purchase agreements, threatened investors, and drove them out of the State, resulting in a loss of 10,000 MW of renewable energy.
Adani Enterprises is expected to report a significant revenue boost, soaring to Rs 1.5 lakh crore by FY27, accompanied by a 46% increase in net earnings.
AEL (Adani Enterprises Limited) is one of India’s largest listed incubators, responsible for conceiving, growing, and demerging numerous successful businesses. The company has a proven track record of creating and nurturing various industries, including ports, gas distribution, power transmission, renewable energy, and commodities. Some of the notable companies born out of AEL include Adani Ports & SEZ, Adani Total Gas, Adani Energy Solutions, Adani Green Energy, Adani Power, and Adani Wilmar.
Adani Green secures $750 million in funding with successful Holdco Bond issue.
Adani Green Energy (AGEL) has completed the funding for its USD 750 million 4.375 notes due September 9, 2024. The company received the funds from the preferential allotment of Rs 9,350 crore to its promoters. The shareholders of AGEL approved the preferential allotment with a 99.9% majority on January 18, 2024. The promoters then infused Rs 2,338 crore (USD 281 million) into AGEL, which was set aside in reserve accounts. The funds will be used to redeem the Holdco Notes. This move reflects the company’s commitment to meeting its strategic priorities, including achieving a target of 45 GW by 2030. AGEL is India’s largest renewable energy solutions partner, with a locked-in growth trajectory of 20.6 GW and an operating renewable portfolio of 8.4 GW across 12 states. The company has offset over 41 million tonnes of CO2 emissions cumulatively. The successful equity capital raise program of USD 1.425 billion and the promoter commitment have boosted investors’ confidence in AGEL.
A breath of fresh air is blowing: Adani’s ambitious renewable energy drive is underway.
Adani Group, led by Gautam Adani, has launched a new campaign titled “Hum Karke Dikhate Hain” to highlight its efforts in the renewable energy sector. The campaign was kickstarted with a film, “Pehle Pankha Phir Bijli” (First Fan, Then Electricity), showcasing the story of a young boy’s excitement about the arrival of electricity to his village. The film, created by Ogilvy India, highlights the impact of Adani’s wind turbine generators in transforming the village. The Adani Group has set an ambitious goal to develop 50 GW of renewable energy capacity by 2030, with Adani Green Energy Limited (AGEL) being the leading provider of renewable energy solutions in India. The company has already achieved notable milestones, such as completing the world’s largest single-site solar power project in 2016. The group’s renewable energy unit, Adani Green Energy, is also developing the Khavda Renewable Energy Park in Gujarat, which will be one of the largest projects globally, with a capacity of 30 GW.
Despite a formidable case against Gautam Adani, legal experts caution that extradition from the US seems unlikely.
In December 2024, federal prosecutors in Brooklyn unsealed an indictment charging Gautam Adani, an Indian businessman, with bribing Indian officials to purchase electricity from his company Adani Green Energy, a subsidiary of his Adani Group conglomerate. Additionally, the indictment accuses Adani of misleading US investors by providing false or misleading information about the company’s anti-corruption practices. The charges are related to the production and sale of electricity in India, which was allegedly generated by Adani Green Energy. The prosecution is seeking accountability from Adani for allegedly using corrupt means to achieve his business goals.
A burgeoning case against Indian businessman Gautam Adani in the US may have gained traction, but extradition remains a challenging and uncertain possibility, according to legal experts.
US prosecutors have obtained strong evidence against Indian billionaire Gautam Adani, including documents found on his nephew’s phone, which could prove that Adani misled investors by failing to disclose bribe payments. The indictment accuses Adani of bribing Indian officials to secure electricity deals for his company, Adani Green Energy, and misleading US investors about the company’s anti-corruption practices. The case against Adani and his colleagues is strong, with experts saying that the evidence will likely make it difficult for them to dispute the allegations. However, it is unlikely that Adani will be extradited to stand trial soon, as it would require cooperation from the Indian government. The US Justice Department has not commented on whether it has made such a request. Adani’s company, Adani Group, has denied the allegations, calling them “baseless.” The US Justice Department is responsible for protecting the integrity of US capital markets, and the case is seen as an important securities enforcement case.
Adani Green Energy establishes dedicated subsidiary to drive growth in renewable energy segment
Adani Renewable Energy Holding Nine Ltd has formed a new wholly-owned subsidiary, Adani Green Energy Sixty Nine Ltd (AGE69L), to operate in the renewable energy sector. The subsidiary was incorporated on Friday by Adani Renewable Energy Holding Nine Ltd at Ahmedabad. AGE69L’s primary objective is to generate, develop, and distribute power from wind energy, solar energy, or other renewable sources. This move is aimed at expanding Adani Green Energy’s (AGEL) presence in the renewable energy space. The exact scope of AGE69L’s operations and projects will be determined in the coming days.
Pioneering the Future: Adani’s Innovative Initiatives in Renewable Energy
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Adani Renewable Energy Holding Nine Ltd, a subsidiary of Adani Green Energy Limited, has recently established a new entity named AGE69L in Ahmedabad, India. According to official filings, this strategic move aims to diversify the company’s portfolio in renewable energy development. AGE69L, specifically, focuses on the production and distribution of electricity derived from wind, solar, and other renewable energy sources. This expansion solidifies Adani’s position as a prominent player in the green energy market, illustrating the company’s long-term commitment to sustainable development and energy transitions. As such, the incorporation of AGE69L marks an exciting milestone for Adani Group, setting the stage for further expansion and innovative technologies within the renewable energy sector. By diversifying its scope through AGE69L, the company reaffirms its dedicated efforts in reducing dependence on fossil fuels and its ambitious vision to create a renewable energy ecosystem.
Adani’s solar contract boasts a lower tariff, making it potentially attractive to new buyers, according to analysts.
US authorities have filed charges against Gautam Adani, the founder and chairman of the Adani Group, and unnamed others for allegedly being part of a scheme to offer a $265 million bribe to Indian officials to secure a contract to supply 8 gigawatts of electricity generated from solar energy through Adani Green Energy Ltd (AGEL). The details of the allegations are unknown, but it is believed to be related to a foreign corrupt practices act (FCPA) in the United States. As a result, the potential defendants face severe legal and reputational consequences. Adani is a prominent Indian businessman and his company, Adani Group, has various interests in infrastructure, energy, and real estate. The news has sent shockwaves through the global business community, raising questions about the allegations and the group’s future.