Adani Green Energy Limited (AGEL) announced on 28 December the incorporation of a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L).
According to a disclosure to the exchange on December 28, the new entity, AGE68L, has been incorporated in India. Adani Green Energy Sixty Eight Limited will work in the renewable energy sector.
“Adani Renewable Energy Holding Nine Limited, a wholly owned subsidiary of the Company, has incorporated a wholly owned subsidiary named Adani Green Energy Sixty Eight Limited (AGE68L) on 28 December 2024.
AGE68L's main purpose is to generate, develop, transform, distribute, transmit, sell and supply any form of power 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 in AGE68L. AGE68L is incorporated in India and registered with the Registrar of Companies in Gujarat at Ahmedabad and is yet to commence business operations there, 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 power plants.
It commissioned 250 MW of wind capacity in the last 6 months, which will pave the way for significant capacity additions in the second half of the current fiscal.
AGEL is developing a 30 GW renewable energy plant spread over an area of 538 sq km at Khavda, Gujarat. The project is expected to set a global benchmark for the development of large-scale renewable energy plants.
AGEL currently has India's largest operational renewable portfolio of 11.2 GW spread across 12 states. The company aims to achieve 50 GW by 2030.