Adani Green Commissions 250 MW Solar Project in Rajasthan

Adani Green Energy Ltd. has taken another step towards expanding India's renewable energy capacity by successfully commissioning a 250 MW solar power plant in Bhimsar, Rajasthan. The project, developed by Adani Green Energy Twenty Four Ltd., a wholly-owned subsidiary, will officially start operations from March 21, 2025.

With the addition of this solar plant, Adani Green's total renewable energy capacity has now reached 12,841 MW. The company has ambitious plans to scale up its capacity to 50 GW by 2030, aligning with India’s clean energy targets.

Leading brokerage firms have taken note of Adani Green’s rapid growth. Cantor Fitzgerald has initiated coverage on the stock with a price target of ₹1,222, highlighting the company’s leadership in solar, wind, and hybrid power projects. Macquarie has also given an 'Outperform' rating, setting a price target of ₹1,200, citing Adani Green’s role in India's energy transition.

Analysts believe that the company is well-positioned for future growth, expecting its EBITDA to grow at a CAGR of 25% over the next 5 years. Macquarie’s research estimates that Adani Green will generate $1.8 billion in operating cash flow by 2030, despite an expected capital expenditure of over $10 billion.

Despite its high capex requirements, Adani Green's financial health is projected to improve. Its net-debt-to-EBITDA ratio, which currently stands at 7x, is expected to decline to 5x by 2030, signaling better financial stability over time.

As India pushes towards its net-zero carbon emissions goal, companies like Adani Green are playing a crucial role in transforming the energy landscape.