Adani Green Energy Limited (AGEL), led by Gautam Adani, has topped the list of Asian firms in the renewable energy sector and is among the top ten RE companies globally for ESG performance, according to Institutional Shareholder Services ESG on Thursday.
Adani Green Energy has been put in the ‘Prime’ (B+) band, recognising its strong ESG disclosure practises and high level of transparency. Previously, Sustainalytics classified Adani Green Energy as one of the world’s top ten corporations in the Renewable Energy industry in FY23.
With this achievement, Adani Green Energy has moved closer to its goal of being one of the top ten ESG firms in the world in the electric utility sector by FY25, according to a company release.
With 8,216 MW, the Adani Group company has the largest operational renewable portfolio in India. Its operations bring clear environmental benefits by contributing to the battle against climate change and facilitating the transition to a more sustainable energy system. Relevant social and environmental concerns are managed by specialised management systems.
“Our policies are consistent with these guidelines, and ESG targets have been established with these policies in mind.” “Our goal is to be among the top ten companies in the world in the ESG benchmarking of the electric utility sector by FY25,” Jaain added.
Adani Green Energy
At 1 p.m., Adani Green Energy’s shares were trading at Rs 975.40, up 1.90%.
Adani Group reported a four-fold increase in profit for the March quarter in May. The Gautam Adani-led company claimed its consolidated profit increased 319 percent to Rs 507 crore during the quarter, owing to a spike in revenues. It declared a combined net profit of Rs 121 crore in the same quarter.
“Our business model has demonstrated remarkable resilience, as evidenced by our strong financial performance,” said Gautam Adani, Chairman of Adani Group, following the Q4 results. “We are industry leaders in green energy and have consistently set new industry standards in efficiency, performance, and capacity development.” We are hastening the shift to sustainable energy and playing a critical role in meeting India’s commitment to a greener future.”
In the same month, Adani Green Energy reported a 6% increase in solar energy sales in the March quarter, owing to 212 MW commissioned in Rajasthan during FY23 and a 40-bps improvement in capacity utilisation factor (CUF).
Improved CUF performance was accompanied by a 10 bps increase in plant availability and a 40 bps increase in plant availability.