Adani Green Energy Q1 FY27 Results: Revenue Rises 29%
Adani Green crosses 20 GW renewable capacity as first quarter earnings climb
Adani Green Energy Ltd (AGEL) reported higher revenue, earnings and electricity generation for the quarter ended 30 June 2026 after expanding its renewable energy portfolio to more than 20 GW. The Ahmedabad-based company said stronger output from newly commissioned solar, wind and hybrid projects, together with battery storage additions, supported its financial performance during the opening quarter of FY27.
The company recorded energy sales of 13,657 million units during the quarter, up 30 per cent from the same period last year. Revenue from power supply rose from Rs. 3,312 crore in Q1 FY26 to Rs. 4,280 crore in Q1 FY27, an increase of 29 per cent. EBITDA from power supply grew 33 per cent to Rs. 4,122 crore, while cash profit increased 28 per cent to Rs. 2,225 crore. The EBITDA margin improved from 93 per cent to 94 per cent.
AGEL’s operational renewable energy capacity reached 20,142 MW, compared with 15.8 GW a year earlier. The company added 4,327 MW of greenfield capacity over the past year, including 3,051 MW of solar projects, 684 MW of wind projects and 592 MW of solar-wind hybrid capacity. During the April to June quarter alone, it commissioned another 848 MW.
The growth reflects the wider expansion of India’s renewable energy sector. The country continues to increase solar and wind generation as it works towards national clean energy targets and seeks to reduce dependence on fossil fuels. Utility-scale battery storage is becoming an important part of that effort because it stores electricity produced during sunny and windy periods and supplies it when demand rises, or renewable generation falls. Research has shown that combining renewable generation with battery storage can improve grid reliability while supporting lower carbon emissions.
Battery storage formed an important part of AGEL’s latest update. The company commissioned 1,972 MWh of Battery Energy Storage System (BESS) capacity at Khavda in Gujarat during the quarter. That increased its installed BESS capacity to 3,551 MWh, one of the largest battery storage deployments at a single location anywhere in the world. AGEL said it remains on course to install more than 10,000 MWh of battery storage by the end of FY27 and continues to target 50,000 MWh by 2030.
Chief Executive Officer Ashish Khanna linked the results to higher electricity demand and project execution.
“We commenced FY27 with strong momentum, underpinned by disciplined execution that enabled us to surpass the 20 GW milestone, alongside a strengthening demand environment. As power demand in India rebounded during the quarter, our expanding renewable energy portfolio enabled us to reliably meet the nation’s growing clean energy requirements while continuing to deliver industry-leading operational performance.
On the energy storage front, we commissioned 1,972 MWh of Battery Energy Storage System (BESS) capacity during the quarter, taking our total installed BESS capacity to 3,551 MWh through one of the world’s largest single-location deployments. As renewable penetration rises and power demand continues to grow, storage will play a critical role in ensuring round-the-clock reliability and grid stability. Together with our renewable generation portfolio and storage capacities, including pumped hydro storage initiatives, we are building a resilient, flexible and future-ready round-the-clock renewable ecosystem that will help accelerate India’s energy transition while strengthening long-term energy security.”
A large share of the company’s recent expansion comes from the Khavda Renewable Energy Park in Kutch district, Gujarat. AGEL is developing a planned 30 GW renewable energy complex spread across about 538 square kilometres, an area almost five times the size of Paris. Operational capacity at Khavda has increased to 10.3 GW, compared with 5.6 GW a year ago. Of this, 9,520 MW belongs to AGEL, while 742 MW has been developed for other Adani Group companies. The company expects the project to reach its planned 30 GW capacity by 2029.
The Khavda project has become one of the largest renewable energy developments under construction anywhere in the world. Its scale reflects India’s growing investment in solar, wind and hybrid generation as electricity demand continues to rise. The project uses large solar arrays, wind turbines and battery storage to improve the availability of renewable power throughout the day.
AGEL also reported improvements in operational efficiency. The company said its renewable plants are monitored through a central Energy Network Operation Centre, which provides real-time oversight of generating assets across India. According to the company, this has helped maintain high plant availability while reducing operating costs.
Beyond financial performance, AGEL highlighted several environmental, social and governance achievements during FY26. It retained the highest CRISIL ESG score in the Indian power sector for the fifth consecutive year, with its score improving from 66 to 69. The company also said it ranked among the top ten companies worldwide in ESG assessments conducted by seven major rating agencies. FTSE Russell placed AGEL first globally in the alternative electricity category for the second consecutive year, while ESG Risk Assessment & Insights Ltd., a SEBI-registered Category I ESG Rating Agency, awarded it a sector-leading ESG Risk Rating score of 77. The company also reported maintaining a net water positive position across its operational portfolio, with its water balance index improving by 30 per cent year on year to 2.14. AGEL further received the Clean Power Generation Award at the Reuters Energy Industry Awards 2026 in New York.
The latest quarterly figures come as investors continue to watch execution, funding and storage expansion across India’s renewable energy industry. For AGEL, the immediate focus remains completing new renewable projects, increasing battery storage capacity and progressing work at Khavda while supporting India’s growing requirement for low carbon electricity.
