Adani Green hits 52-week high as company ranked largest solar power developer

Adani Green hits 52-week high as company ranked largest solar power developer

Shares of Adani Green rallied more than 5 percent to hit a fresh 52-week high on September 2 after Mercom Capital ranked the Adani Group as the #1 global solar power generation asset owner in terms of operating, under construction, and awarded solar projects.

Adani’s renewable energy portfolio exceeds the total capacity installed by the entire United States solar industry in 2019 and will displace over 1.4 billion tons of carbon dioxide over the life of its assets, the company said in a note to exchanges.

At 10:00 AM, Adani Green was trading 5 percent higher at Rs 523.

The group is one of the most fully integrated solar players in the world, manufacturing solar cells and modules, undertaking project development, construction, financial structuring, and owning and operating its assets through its robust internal asset management platform.

Adani Green Energy Limited (AGEL) established its first solar project in 2015 and even as recently as 2017 the Company had completed just two solar projects.

The Company went public in 2018 and has accelerated its presence to reach the current milestone of being the largest solar player in the world in a short span of just 5 years, with a target to achieve an installed generation capacity of 25 GWac of renewable power by 2025.