Adani Green share price surged over 9% on Thursday, bouncing back from the previous session’s significant losses, following an announcement that its subsidiary had inked a power purchase agreement with Solar Energy Corporation of India (SECI). Adani Green Energy shares soared by as much as 9.33% to reach ₹1,887.80 apiece on the BSE.
The subsidiary, Adani Renewable Energy Fifty Nine Ltd, has entered into power purchase agreements (PPA) with SECI for the supply of 534 MW of solar power projects, Adani Green Energy disclosed in an exchange filing. With these PPAs in place, the company’s total renewable energy project portfolio now stands at 21,778 MWac capacity.
Earlier this month, on March 11, Adani Green Energy announced the operationalization of a cumulative capacity of 1,000 MW solar energy at the world’s largest renewable energy park in Khavda, Gujarat. This milestone contributed to the company achieving an operational capacity of 9,478 MW.
Despite experiencing a sharp decline of over 9% in the previous session due to a broad-based market correction, Adani Green shares rebounded strongly on Thursday, accompanied by a rally in other Adani Group stocks. The resurgence in share price reflects renewed investor confidence in the company’s growth trajectory and its strategic initiatives in the renewable energy sector.
