Adani Group Stock Jumps Over 4% After Commissioning 139 MW Solar Project at Khavda

On Tuesday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index falling 24.60 points (0.10 per cent) to 24,055.80. Amid the market movement, Adani Green Energy share price rose 4.12 per cent to Rs 1,265 after the company announced the operationalisation of a 139 MW Solar power project at Khavda, Gujarat.

The new capacity has been commissioned by Adani Green Energy Twenty Six A Limited, a wholly-owned step-down subsidiary of Adani Green Energy Limited (AGEL). Following receipt of the required clearances, the company decided at 2:05 p.m. on September 1, 2026, to commercially operationalise the plant.

The commissioning takes AGEL's total operational renewable generation capacity to 20,280.80 MW. Its operational battery energy storage system (BESS) capacity stands at 3,551 MWh.

Capacity Expansion Continues Beyond 20 GW Milestone
The latest 139 MW addition comes shortly after Adani Green crossed the 20 GW operational capacity mark during Q1 FY27. At the end of the June quarter, AGEL's renewable energy portfolio stood at about 20,142 MW, up 27 per cent YoY from 15.8 GW. The company had added 848 MW during Q1 FY27 and 4,327 MW on a YoY basis. The latest Khavda commissioning has now lifted operational capacity by another 139 MW from the June-end level. 

The company's expansion has increasingly been centred around Khavda, where it is developing a 30 GW renewable energy complex. The project spans around 538 square kilometres in Gujarat and is targeted to reach its full planned capacity by 2029. At the end of FY26, the broader operational portfolio at Khavda stood at around 9.4 GW across solar, wind and hybrid projects.

The September commissioning therefore represents another step in the gradual build-out of the Khavda project rather than a standalone capacity addition.

Khavda Remains Central to Adani Green's Growth Plans
Adani Green has been steadily adding solar, wind and hybrid capacity at the site. During FY26, the company commissioned 5,051 MW of greenfield renewable energy capacity, including 3,412 MW of solar, 683 MW of wind and 956 MW of solar-wind hybrid projects. A substantial portion of these additions came from Khavda. The expansion took AGEL's operational portfolio to 19.3 GW at the end of FY26. 

Capacity additions continued into FY27. In June 2026, the company commissioned a 150 MW solar project at Khavda, taking renewable capacity to 19,985.8 MW. Further projects commissioned by the end of the quarter pushed capacity beyond the 20 GW mark.  The latest 139 MW plant has now raised the portfolio further to 20.28 GW.

Q1 FY27 Growth Supported by New Capacity
The company's recent capacity additions have also translated into higher operating numbers. During Q1 FY27, energy sales increased 30 per cent YoY to 13,657 million units. Revenue from power supply grew 29 per cent to Rs 4,280 crore, while EBITDA from power supply increased 33 per cent to Rs 4,122 crore. Cash profit rose 28 per cent YoY to Rs 2,225 crore, while the power supply EBITDA margin stood at 94 per cent. 

Battery storage is another area where AGEL has been adding capacity. During the June quarter, it commissioned 1,972 MWh of BESS capacity at Khavda, taking total installed storage capacity to 3,551 MWh. The company has stated that it remains on track to expand renewable capacity further while taking BESS capacity beyond 10,000 MWh as part of its FY27 plans. 

Against this backdrop, the newly operationalised 139 MW solar project adds to AGEL's ongoing capacity build-out as the company works towards its longer-term renewable energy expansion plans.
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Disclaimer: The article is for informational purposes only and not investment advice.