Adani Green Energy Limited (AGEL) announced the incorporation of a new wholly-owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), on December 28.
The new entity, AGE68L, is incorporated in India, according to a disclosure to the exchanges on December 28. The 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, namely, Adani Green Energy Sixty Eight Limited (AGE68L) on December 28, 2024,” the filing said.
The main objective of AGE68L is to generate, develop, transform, distribute, transmit, sell and supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy. The authorised 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 of AGE68L. AGE68L is incorporated in India and registered with the Registrar of Companies, Gujarat, at Ahmedabad and is yet to commence its business operations, 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.
Over the last 6 months, it operationalised 250 MW of wind capacity, which will pave the way for significant capacity addition in the second half of the current financial year.
AGEL is developing a massive 30 GW renewable energy plant at Khavda in Gujarat spread over an area of 538 sq km. This project is expected to set a global benchmark for the development of ultra-large-scale renewable energy plants.
AGEL currently has an operating renewable portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030.
