Adani Green Energy Limited has issued a Compliance Certificate for the period ended September 30, 2025, related to its 930 MW solar projects. The certificate pertains to RG I entities, including Parampujya Solar Energy Limited, Prayatna Developers Limited, and Adani Green Energy (UP) Limited, and confirms compliance with the Note Trust Deed dated March 12, 2024. This submission is voluntary and not considered a formal intimation.
Strong Operational Performance
Adani Green Energy Limited (AGEL) has shared key operational and financial highlights:
- Operational capacity increased by 49% Y-o-Y to 16,680 MW, with a greenfield addition of 5,496 MW
- Sale of Energy at 19,569 Mn units increased by 39% in H1 FY26 vs 14,128 Mn units in H1 FY25, having steady growth at a CAGR of 45% with increasing proportion of Merchant power over last 5 years.
Financial Performance
EBITDA Actual TTM Sept 2025 vs Projected FY26
- EBITDA from Power Supply: 8,079
- Other Income : 2,150
- VGF / GST Claim Receipt: 323
- Total EBITDA : 10,552
RG-I Financial Covenant Ratios
- Debt Service Coverage Ratio (DSCR): 2.28
- FFO / Net Debt: 20.7%
- Project Life Cover Ratio (PLCR): 1.84
- EBITDA from Sovereign Equivalent Counterparty: 61.40%
Compliance Details
The company states that it is acting prudently and that the cash balance can be distributed as permitted under the relevant Transaction Documents; to the best of their knowledge having made due enquiry, no Default subsists.
Source: BSE