Two Adani group firms run by Gautam Adani, Adani Green Energy Ltd and Adani Energy Solutions Ltd (formerly Adani Transmission Ltd), are set to release their June quarter results today. Recently, the two businesses released preliminary quarterly results.
With strong capacity expansion, Adani Green Energy reported that its energy sales in Q1FY25 grew 22% YoY to 7,356 million units. According to this Adani company, it often generates energy far more than what it was required to under PPAs.
With the installation of 2,618 MW of greenfield capacity, Adani Green Energy said that its operating capacity increased by 31% to 10,934 MW in Q1. It put 2,418 MW of solar power facilities into service, along with 2,000 MW of greenfield additions in Khavda and 418 MW in Rajasthan. In Gujarat, Adani Green Energy put 200 MW of wind power facilities into service. Energy sales climbed by 22% to 7,356 million units.
The CUF for the solar portfolio was 25.4%, supported by 99.4% plant availability; the CUF for the wind portfolio was 36.2%, supported by 96.8% plant availability; and the CUF for the hybrid portfolio was 46%, supported by 99.7% plant availability.
Adani Green Energy said that on July 26, ICICI Securities would hold an earnings call for analysts and equity investors.
Regarding Adani Energy Solutions, the Adani company reported that, despite adding 190 ckm to the operational network during the quarter, bringing the total network length to 21,187 ckm, its transmission division witnessed a strong system availability of 99.7 percent in Q1FY25. Regarding the distribution business (AEML and MUL), the Mumbai utility's distribution loss for AEML stayed modest at 5.18 percent. The company sustained an above-99.9% supply dependability (ASAI).
"The total number of units sold increased by 8% to 2,962 million from 2,754 million in Q1FY24 due to growing demand in the Mumbai distribution circle." E-payments now make up 83.30% of total collections, up from 78.48% in the previous year. Higher digital usage and a customer-centric mindset are what are fueling the rise, according to Adani Energy Solutions.
With strong industrial demand, MUL's sales of units increased 70% YoY to 226 million from 133 million units the previous year.
Regarding the smart metering industry, as of Q1, there were nine contracts totaling 22.8 million smart meters under construction. According to the corporation, the meter deployment activity is proceeding smoothly.
