Adani Green Achieves Global Water Positive Status, Secures 400 MW Uttar Pradesh Solar PPA

Adani Green Energy Limited (AGEL), a significant player in India's renewable energy sector, has recently marked two key developments highlighting its operational scale and sustainability commitments. The company has not only become the first renewable energy Independent Power Producer (IPP) globally to achieve water positive status across its extensive operational portfolio but a subsidiary has also secured a significant long-term power purchase agreement for solar energy in Uttar Pradesh. These developments underscore AGEL's dual focus on environmental stewardship and strategic business expansion in India's energy transition landscape.

Global Pioneer in Water Management

AGEL's achievement of becoming water positive encompasses its entire operational portfolio, exceeding 14 GW capacity. This milestone was reached a year ahead of its initial target set for FY26. The company is certified water positive by global assurance firm Intertek, following comprehensive audits and assessments across 103 operational sites and 85 water conservation sites. Notably, AGEL is the first and only among the top 10 global companies in terms of operational renewable energy portfolio to reach this milestone. In India, it is the only renewable energy company of its scale to receive this certification.

Being water positive means adopting practices that not only save water but also increase its availability in the surrounding environment. For industries, this specifically translates to replenishing more fresh water to nature than is consumed in operations. This is particularly significant given that a majority of AGEL's solar and wind plants are located in landscapes where water scarcity presents a challenge, such as the arid regions of the Thar desert and Khavda in Gujarat. AGEL's water conservation efforts are substantial, equivalent to approximately 467 Olympic-sized swimming pools and exceeding the half-yearly water demand of Lakshadweep. 

Eighty-five revitalised ponds benefiting over 1,23,000 people, including those in water-scarce communities, are part of this initiative. The company leverages advanced technologies, with over 54 per cent of its operational capacity employing robotic cleaning for solar modules, which saves roughly 546 million litres of water annually. Other methods include deepening traditional water bodies, rainwater harvesting, and pilot projects like obtaining clean drinking water from humid air. AGEL also states its operational portfolio is certified as single-use plastic free and zero waste-to-landfill, in addition to being water positive. The company highlights the importance of this achievement given India's low levels of freshwater availability per capita and high utilisation rates.

Strategic Expansion with Uttar Pradesh PPA

In a parallel development, Adani Green Energy Sixty Nine Ltd, a wholly-owned step-down subsidiary of AGEL, has signed a 25-year Power Purchase Agreement with Uttar Pradesh Power Corporation Limited (UPPCL). This agreement pertains to the supply of 400 MW of solar power. The power will be generated from a grid-connected photovoltaic project slated for development in Rajasthan. The agreed tariff for this supply is ₹2.57 per kilowatt-hour (kWh), which is described as being in line with current market competitiveness.

This PPA aligns with AGEL's recent financial performance for the fiscal year 2024–25, where the company reported a 23% increase in power supply revenue, reaching ₹9,495 crore. During the same period, EBITDA rose by 22% to ₹8,818 crore with a margin of 91.7%, and cash profits grew by 22% to ₹4,871 crore. The company also commissioned 3,309 MW of additional renewable capacity in FY24-25, increasing its total operational capacity by 30% to 14.2 GW. AGEL is pursuing an ambitious goal of achieving 45 GW of renewable energy capacity by 2030 and positions itself as one of the world's largest renewable energy developers dedicated to accelerating India's transition to sustainable power.

Together, these announcements reflect AGEL's strategic approach, combining significant capacity expansion with pioneering environmental sustainability efforts, particularly concerning critical resources like water, as it contributes to India's clean energy goals. As of 12:15 PM, the company’s stock is trading 1.43% lower at ₹867.90.

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