Adani Green Energy reports 37% YoY growth in energy sales during 9M FY26
Ahmedabad : Adani Green Energy Ltd (AGEL), India’s largest and fastest-growing pure-play renewable energy company, has reported strong financial and operational performance for the quarter and nine months ended December 31, 2025, underlining its sustained growth momentum and execution strength.
Financial Performance: Q3 & 9M FY26
AGEL posted robust growth in both revenue and EBITDA, driven by significant greenfield capacity additions, strong plant performance, and commissioning of projects at resource-rich locations in Khavda (Gujarat) and Rajasthan.
Revenue from Power Supply rose 21% year-on-year to ₹2,420 crore in Q3 FY26, while the nine-month figure increased 25% to ₹8,508 crore.
EBITDA from Power Supply grew 23% to ₹2,269 crore in Q3 and 24% to ₹7,921 crore for the nine-month period, maintaining an industry-leading EBITDA margin of over 91%.
Cash Profit stood at ₹812 crore in Q3 FY26, while rising 7% to ₹3,906 crore in the nine-month period.
The performance was primarily supported by the addition of 5.6 GW of renewable energy capacity, deployment of advanced technologies, and efficient operations.
CEO Statement
Mr. Ashish Khanna, CEO, Adani Green Energy, said that in calendar year 2026, AGEL added 5.6 GW of renewable capacity—accounting for nearly 14% of India’s total new solar and wind installations. The company’s operational capacity has now reached 17.2 GW.
He highlighted the rapid progress at the Khavda project, the world’s largest renewable energy installation, and said AGEL is on track to deploy one of the world’s largest single-location battery energy storage systems in the coming months. The hydro pumped storage project on the Chitravathi river in Andhra Pradesh is also progressing as planned.
In the first nine months of FY26, AGEL generated over 27 billion units of clean electricity, enough to power a country the size of Azerbaijan for a year. He also noted that AGEL has been ranked the World’s No. 1 Green Utility by Energy Intelligence.
Capacity Addition & Operational Performance
AGEL’s operational capacity expanded 48% year-on-year to 17.2 GW.
The company added 2,995 MW greenfield capacity in the first nine months of FY26, which is over 90% of the entire FY25 addition.
Over the past year, AGEL added 5,630 MW, including:
4,187 MW solar capacity (Khavda, Rajasthan, Andhra Pradesh)
462 MW wind capacity in Khavda
981 MW solar-wind hybrid capacity in Khavda
Energy sales increased 37% YoY, supported by new capacity and operational efficiency.
AGEL’s advanced O&M practices, supported by AI, machine learning, and real-time monitoring through the Energy Network Operation Center, have ensured higher plant availability, lower costs, and consistent generation exceeding PPA commitments. In 9M FY26, AGEL achieved 79% of its annual PPA-based generation commitment.
Development of World’s Largest RE Plant at Khavda
AGEL is developing a 30 GW renewable energy plant at Khavda spread over 538 sq km—nearly five times the size of Paris.
Current operational capacity at Khavda stands at 7.7 GW across solar, wind, and hybrid projects.
Advanced technologies such as bifacial solar modules, robotic installation, waterless robotic cleaning, and 5.2 MW wind turbines are being deployed.
AGEL aims to achieve 30 GW capacity at Khavda by 2029, setting a global benchmark for ultra-large renewable projects.
ESG Leadership
AGEL continues to receive global recognition for its sustainability initiatives:
Ranked No. 1 in Global Top 100 Green Utilities 2025 by Energy Intelligence.
Integrated the TNFD framework into its operations to strengthen nature-positive practices.
Recognized as India’s top sustainability performer in the power sector by NSE Sustainability Ratings & Analytics for the second consecutive year.
Won Water Stewardship and Clean Energy Champion awards at the Financial Express Green Sarthi Awards 2025.
AGEL’s latest performance reflects its commitment to scaling clean energy infrastructure while maintaining operational excellence and sustainability leadership.
