Adani Green, India's clean energy company, aims to add 5 GW in clean energy by FY26 with $3.6 billion capex

Ashish Khanna, CEO of India's Adani Green Energy, said that the company plans to invest 310 billion rupees (about $3.64 billion) to add five gigawatts in clean energy during the current fiscal period.

The target for capacity addition is more than 50% higher than the previous year.

Khanna told analysts in a conference call that "we have a comprehensive framework for capital management to fully fund our expansion up to 50GW by 2030 while maintaining strict credit discipline."

Adani Green is building a new energy park in Gujarat's western state. The company has a portfolio of 14.2 GW clean energy. The park will be five times as large as Paris when completed and produce 50 gigawatts by 2030, which is roughly one tenth the clean energy goals of India.

The company stated that its fiscal 2026 capital expenditures are fully funded, both from a debt-and equity-perspective. It is confident in its equity funding for the construction of 50 GW of renewable energy projects and constantly reviews its debt tenure.

Adani Green has announced its clean energy expansions as U.S. officials have indicted Gautam Adani, the founder of Adani Green, and other top executives for alleged securities fraud. They were also accused of a $265 million bribery scam to secure power contracts.

Adani Green, the independent review conducted by Adani Green, said that it did not find any irregularities or non-compliance in the indictment.

On Tuesday, CEO Khanna stated that the accusations were against individuals and not the firm.

Khanna stated that "from the Department of Justice's standpoint, although the allegations are present... we should also be seeing positive results from an individual perspective."

(source: Reuters)