+
Adani Green Energy Upgraded To AA ‘Stable’ By CareEdge
POWER & RENEWABLE ENERGY

Adani Green Energy Upgraded To AA ‘Stable’ By CareEdge

Adani Green Energy (AGEL), India’s largest renewable energy developer, has received a credit rating upgrade from AA- to AA with a ‘Stable’ outlook by CareEdge Ratings.

The agency cited AGEL’s market leadership, execution capabilities, and strong operational and financial profile as key drivers of the upgrade.

As of June 30, 2025, AGEL had an operational portfolio of 15.8 GWAC, comprising 70 per cent solar, 13 per cent wind, and 17 per cent hybrid assets. The company is also developing another 15.1 GWAC over the next four to five years, including large-scale projects in Khavda, Gujarat, where 5.6 GWAC is already operational.

AGEL aims to scale up to 30 GWAC in Khavda alone, backed by long-term power purchase agreements (PPAs) covering 83 per cent of its operational capacity. Of this, 11.1 GWAC is tied with stronger counterparties such as central utilities, Gujarat utilities, and Adani Electricity Mumbai.

The rating also reflects support from TotalEnergies, which holds a 20 per cent stake in AGEL and 50 per cent in 4.5 GWAC joint ventures. Further, the Adani family infused Rs 9,350 crore, utilised for debt prepayment, loan repayments, and growth equity.

CareEdge noted that AGEL’s high plant availability, generation above design estimates, low collection period, and healthy liquidity position underpin the rating. The ‘Stable’ outlook reflects confidence in AGEL’s ability to scale capacity on schedule with strong long-term revenue visibility.


News source: The Free Press Journal

Adani Green Energy (AGEL), India’s largest renewable energy developer, has received a credit rating upgrade from AA- to AA with a ‘Stable’ outlook by CareEdge Ratings.The agency cited AGEL’s market leadership, execution capabilities, and strong operational and financial profile as key drivers of the upgrade.As of June 30, 2025, AGEL had an operational portfolio of 15.8 GWAC, comprising 70 per cent solar, 13 per cent wind, and 17 per cent hybrid assets. The company is also developing another 15.1 GWAC over the next four to five years, including large-scale projects in Khavda, Gujarat, where 5.6 GWAC is already operational.AGEL aims to scale up to 30 GWAC in Khavda alone, backed by long-term power purchase agreements (PPAs) covering 83 per cent of its operational capacity. Of this, 11.1 GWAC is tied with stronger counterparties such as central utilities, Gujarat utilities, and Adani Electricity Mumbai.The rating also reflects support from TotalEnergies, which holds a 20 per cent stake in AGEL and 50 per cent in 4.5 GWAC joint ventures. Further, the Adani family infused Rs 9,350 crore, utilised for debt prepayment, loan repayments, and growth equity.CareEdge noted that AGEL’s high plant availability, generation above design estimates, low collection period, and healthy liquidity position underpin the rating. The ‘Stable’ outlook reflects confidence in AGEL’s ability to scale capacity on schedule with strong long-term revenue visibility.News source: The Free Press Journal

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code