Shares of Adani group companies Adani Green Energy Ltd and Adani Energy Solutions Ltd rose up to 2 per cent in Thursday’s trade, ahead of their December quarter results. Data available with corporate database AceEquity suggests FPIs had cut exposure to Adani Green Energy Ltd by 148 basis points to 13.68 per cent in Q3 from 15.16 per cent in Q2. In Adani Energy Solutions, they reduced stake by 132 basis points to 17.34 per cent from 18.66 per cent. Mutual fund holdings in Adani Energy Solutions Ltd (up 57 bps to 1.91 per cent) and Adani Green Energy Ltd (up 28 bps to 0.37 per cent), on the other hand, were up marginally for the quarter.
On Thursday, Adani Green Energy shares rose 1.63 per cent to hit a high of Rs 1,047. Adani Energy Solutions advanced 0.70 per cent to hit a high of Rs 801.15. Both the stocks were trading flat later in the trading session.
Adani Energy Solutions recently came out with the December quarter business update. In the transmission business, Adani Energy maintained system availability of 99.7 per cent in Q3FY25. The company said it added 225 ckm in network during Q3FY25, with total transmission network at 26,485 ckm.
During the quarter, Adani Energy won two new projects – Khavda Phase IV Part-D with a project cost of Rs 3,455 crore and Rajasthan Phase III Part-I (Bhadla – Fatehpur HVDC) with a preliminary project cost of Rs 25,000 crore.
It received LOI for Rajasthan Phase III Part-I (Bhadla – Fatehpur HVDC transmission line). This is the company’s largest order win till date, Adani Energy said.
“The new project wins in FY25 have bolstered the under-construction project pipeline to Rs 54,700 crore from Rs 17,000 crore at the start of the year,” it said.
Adani Green Energy, on the other hand, offered operational update for the nine months ended December 31. The Adani firm said its operational capacity for the first three quarters of FY25 rose 37 per cent to 11,609 MW with greenfield addition of 3,131 MW. It operationalised 2,693 MW Solar power plants and saw greenfield addition of 2,113 MW in Khavda, Gujarat. Besides, Adani Green Energy saw greenfield addition of 580 MW in Rajasthan. Adani Green Energy operationalised 438 MW wind power plants.
The sale of energy for the first three quarters rose 23 per cent to 20,108 million units backed by robust capacity addition, Adani Green Energy said recently.
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