“Adani Saur Urja (LA) Limited, a Wholly-owned Subsidiary of the Company, has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) for procurement of 1,250 MW energy storage capacity from Pumped Hydro Storage Projects,” Adani Green Energy said in a regulatory filing.
The capacity was secured through an e-Reverse Auction conducted by UPPCL. The awarded contract has a fixed annual cost of ₹76.53 lakh per MW, excluding taxes, for a duration of 40 years from the commercial operation date (COD).
Also Read: Adani Green Energy says operations not affected post TotalEnergies statement; Stock falls for sixth day
“The capacity is secured through the e-Reverse Auction conducted by UPPCL. The Annual Fixed Cost payable under the LOA is ₹76,53,226 per Mw per Annum (taxes extra) for the entire period of 40 years from COD,” Adani Green Energy said.
Adani Green Energy’s Q3 consolidated net profit surged by more than 85% to ₹474 crore compared to ₹256 crore in the same period last year. The pure-play renewable firm from billionaire Gautam Adani-led Adani Group’s revenue from operations also saw an increase of 2.3% to ₹2,365 crore in Q3FY25 compared to ₹2,311 crore in the year-ago period.
The earnings before interest, taxes, depreciation, and amortization (EBITDA), however, dropped 4% to ₹1,601 crore compared to ₹1,666 crore in the previous year. Consequently, the EBITDA margin also declined to 67.7% from the 72.1% recorded in the same period last year.
Also Read: Adani Green shares slip amid report of Sri Lanka revoking power deal; company issues clarification
Shares of Adani Green Energy Ltd ended at ₹840.35, up by ₹4.75, or 0.57% on the BSE.
