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Adani Hydro Energy Five Ltd, a wholly-owned step-down subsidiary of Adani Green, signed the agreement on Wednesday to supply 1,250 megawatts (MW) of energy storage capacity from pumped hydro storage projects, according to a stock exchange filing.
The PPA was executed at 3:00 p.m. on April 23. Adani Green did not disclose the value of the deal.
This marks another clean energy win for Adani Green in Uttar Pradesh. In March, another subsidiary—Adani Renewable Energy Holding Twelve—secured a 25-year contract to supply 400 MW of solar power to the state. The power will be generated from a grid-connected facility in Rajasthan at a tariff of Rs 2.57 per kilowatt-hour.
The group is also developing a 500 MW solar park in Bhadla, Jodhpur, and a 1,500 MW facility in Fatehgarh, Jaisalmer. The Fatehgarh project will span nearly 9,981 acres.
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In FY25, Adani Green reported a 28% year-on-year increase in energy sales, reaching 27,969 million units. Its operational capacity rose 30% to 14.2 gigawatts, maintaining a 45% compound annual growth rate in energy generation over the past five years.
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Shares of Adani Green Energy closed 1.1% higher at Rs 952.70 on Wednesday on the BSE. However, the stock is down 47.6% over the past year and has declined 7.6% in the last three months.
Technically, the stock is trading above five of its eight key simple moving averages, but remains below its 100-day, 150-day, and 200-day SMAs. The 14-day Relative Strength Index stands at 56.7, indicating neutral momentum.
Also read | Bullish momentum brewing? 80% of NSE500 stocks now above 50-day average, says Axis Securities
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