Adani Solar Energy Jaisalmer Two Private Limited Commissions 150 MW Solar Power Project At Bikaner

Adani Group's renewable energy firm Adani Green Energy issued an important update on Saturday concerning the completion of the commissioning of the entire 150 MW solar power project at Bikaner, Rajasthan for the sale of power to third parties or on power exchanges.

The company informed that its Wholly-owned step-down subsidiary Adani Solar Energy Jaisalmer Two Private Limited has progressively completed the commissioning of the entire 150 MW solar power project at Bikaner, Rajasthan as an Independent Power Producer ("IPP") for the sale of power to a third parties or on power exchanges.

In an exchange filing, the company today said, "Adani Solar Energy Jaisalmer Two Private Limited, a wholly-owned step-down subsidiary of Adani Green Energy Limited ("AGEL") has progressively completed the commissioning of the entire 150 MW solar power project at Bikaner, Rajasthan as an Independent Power Producer ("IPP") for sale of power to third parties or on power exchanges."

With the successful commissioning of this plant, AGEL's total operational renewable generation capacity has increased to 8,404 MW. This places AGEL's total renewable portfolio well on track to reach its vision of 45 GW capacity by 2030.

On Friday, the share price of Adani Green Energy closed 0.15% higher at Rs 960.75 per share. In the last six months, the stock has gained 12.36%. Indian equities rallied on Friday after the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50%.

The benchmark index Sensex closed 0.55% at 65,995.63 points, while Nifty 50 was up 0.55% at 19,653.50 points.
Last month, Adani Green Energy Limited entered into a binding agreement with TotalEnergies to create a new JV, equally owned by TotalEnergies and AGEL, with a 1,050 MW portfolio.

This portfolio will comprise a mix of already operational (300 MW), under construction (500 MW) & under development assets (250 MW) with a blend of both solar & wind power. AGEL will contribute to the JV the assets and TotalEnergies an equity investment of 300 MUS$ which will further support their development.