AGEL commissions 50 MW Khavda solar project, reports nine month financials

Adani Green Energy Limited (AGEL) has commissioned a 50 MW solar power project at Khavda in Gujarat through its wholly owned stepdown subsidiary, Adani Green Energy Twenty Six A Limited. The project began commercial operations on 25 January 2026 after receiving the required clearances.

AGEL informed the stock exchanges that the commissioning was formally recorded at 10:49 a.m. on 25 January 2026. With this addition, the company’s total operational renewable energy capacity has increased to 17,287.2 MW.

In a separate disclosure dated 23 January 2026, AGEL announced its financial results for the third quarter (Q3) and the nine months ended FY2025–26. For Q3 FY26, the company reported a net profit of just Rs 5 crore, a steep drop from Rs 644 crore in the previous quarter (Q2 FY26) and Rs 474 crore in the same quarter last year (Q3 FY25). Revenue from operations stood at Rs 2,420 crore for the quarter, down 12.8% sequentially but up 21.4% year-on-year. Over the nine months ending December 31, 2025, revenue rose 24.5% to Rs 8,508 crore, while net profit declined by approximately 9% to Rs 1,473 crore. The company attributed the profit decline largely to exceptional, non-recurring expenses. These included over Rs 100 crore in unamortized borrowing costs written off due to accelerated refinancing and prepayment of subsidiary borrowings. An additional Rs 78 crore in legal and professional fees related to a proposed foreign bond issuance, later abandoned, was also written off. Other exceptional items involved project write-offs and provisions related to legacy disputes.

The company stated that its operational capacity rose by 48% over the previous year to 17.2 GW, with 5.6 GW added during the last twelve months. AGEL also noted that it ranked first in Energy Intelligence’s 2025 Annual Global Top 100 Green Utilities Rankings.

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