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Adani Green shares in focus after 1,250 MW hydro storage deal with Uttar Pradesh utility

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Riya Sharma

, ETMarkets.comLast Updated: Apr 24, 2025, 09:22:00 AM IST

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Adani Green Energy is in focus after its subsidiary signed a PPA with Uttar Pradesh Power Corporation to supply 1,250 MW of pumped hydro storage capacity. This adds to its recent clean energy wins, including a 400 MW solar deal. In FY25, energy sales rose 28%, and capacity hit 14.2 GW, despite the stock declining over the year.

Adani Green shares in focus after 1,250 MW hydro storage deal with Uttar Pradesh utility — Adani Green inks 1,250 MW storage deal with U.P., boosting clean energy push.

Shares of Adani Green Energy are set to be in focus on Thursday after a subsidiary signed a power purchase agreement (PPA) with Uttar Pradesh Power Corporation for a major energy storage project.

Adani Hydro Energy Five Ltd, a wholly-owned step-down subsidiary of Adani Green, signed the agreement on Wednesday to supply 1,250 megawatts (MW) of energy storage capacity from pumped hydro storage projects, according to a stock exchange filing.

The PPA was executed at 3:00 p.m. on April 23. Adani Green did not disclose the value of the deal.

This marks another clean energy win for Adani Green in Uttar Pradesh. In March, another subsidiary—Adani Renewable Energy Holding Twelve—secured a 25-year contract to supply 400 MW of solar power to the state. The power will be generated from a grid-connected facility in Rajasthan at a tariff of Rs 2.57 per kilowatt-hour.

The group is also developing a 500 MW solar park in Bhadla, Jodhpur, and a 1,500 MW facility in Fatehgarh, Jaisalmer. The Fatehgarh project will span nearly 9,981 acres.

In FY25, Adani Green reported a 28% year-on-year increase in energy sales, reaching 27,969 million units. Its operational capacity rose 30% to 14.2 gigawatts, maintaining a 45% compound annual growth rate in energy generation over the past five years.

Shares of Adani Green Energy closed 1.1% higher at Rs 952.70 on Wednesday on the BSE. However, the stock is down 47.6% over the past year and has declined 7.6% in the last three months.

Technically, the stock is trading above five of its eight key simple moving averages, but remains below its 100-day, 150-day, and 200-day SMAs. The 14-day Relative Strength Index stands at 56.7, indicating neutral momentum.

Also read | Bullish momentum brewing? 80% of NSE500 stocks now above 50-day average, says Axis Securities

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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