Adani Green Energy Limited (AGEL) announced the incorporation of a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), on 28 December.

The new entity, AGE68L, is incorporated in India, according to a statement to the stock exchanges on December 28. Adani Green Energy Sixty Eight Limited will work in the renewable energy sector.

“Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of the Company, has incorporated a wholly-owned subsidiary, namely Adani Green Energy Sixty Eight Limited (AGE68L) on December 28, 2024,” the filing said .

The main purpose of AGE68L is to generate, develop, transform, distribute, transmit, sell and supply any type of energy or electrical energy using wind, solar or other renewable energy sources. The authorized capital and paid up capital of AGE68L remains at Rs 1,00,000.

Adani Renewable Energy Holding Nine Limited, a wholly owned subsidiary of the Company, owns 100% of the share capital of AGE68L. AGE68L is incorporated in India and registered with the Registrar of Companies, Gujarat, Ahmedabad and is yet to commence its commercial operations, the filing added.

Adani Green Energy Limited is a renewable energy company. It develops, owns and operates utility-scale grid-connected solar, wind and hybrid renewable power plants.

Over the last 6 months, it has commissioned 250 MW of wind capacity, which will pave the way for significant capacity expansion in the second half of the current financial year.

AGEL is developing a large 30 GW renewable energy plant at Khavda in Gujarat, spread over an area of ​​538 km². This project is expected to set a global benchmark for the development of large-scale renewable energy plants.

AGEL currently has an operational renewable energy portfolio of 11.2 GW, the largest in India, spread across 12 states. The company has set itself the goal of reaching 50 GW by 2030.