Adani Green Energy Signs 20.8 MW Solar-Wind Hybrid Power Deal with Asahi India Glass

Adani Green Energy Limited has strengthened its renewable energy supply portfolio by executing a captive power consumption and investment agreement with Asahi India Glass Limited.  

The arrangement involves the supply of solar-wind hybrid power from Gujarat and reinforces the company’s focus on long-term clean energy contracts with industrial consumers. 

Hybrid Power Supply Agreement Details 

Adani Green Energy Twenty Five B Limited, a wholly owned step-down subsidiary of Adani Green Energy, has entered into a power consumption agreement to supply 20.8 MW of hybrid renewable energy to Asahi India Glass.  

The power will be generated from a combination of a 25 MW solar project and a 20.8 MW wind project, both located at Khavda in Gujarat. The agreement is structured under India’s captive power framework, enabling Asahi India Glass to meet its renewable energy requirements through long-term sourcing. 

Investment Structure and Captive Shareholding 

Alongside the power consumption agreement, Adani Green Energy Twenty Five B Limited and Adani Renewable Energy Holding Four Limited have executed an investment agreement with Asahi India Glass.  

Under this arrangement, Asahi India Glass will subscribe to a minimum of 26% of the proportionate equity linked to the project in one or more tranches to comply with captive ownership norms.  

Upon completion, Adani Renewable Energy Holding Four will hold a majority stake, while the captive user will retain a minority equity interest with voting rights. 

Strategic Importance and Operational Terms 

The agreement grants Adani Renewable Energy Holding Four the right to appoint directors to the project entity’s board. In the event of termination of the power consumption agreement, Adani entities will have the right to buy back the captive user’s shares, ensuring operational control and continuity.  

The transaction has been classified as a non-related party arrangement and remains subject to customary regulatory approvals. 

Read More: India’s Energy Storage Market Poised for 10x Surge to 5GWh in 2026! 

Adani Green Energy Share Price Performance  

As of January 08, 2025, at 9:45 AM, Adani Green Energy share price is trading at ₹1,015.50 per share, reflecting a decline of 0.37% from the previous closing price.  

Conclusion 

The hybrid power supply agreement with Asahi India Glass underscores Adani Green Energy’s strategy of expanding its captive renewable portfolio while supporting industrial decarbonisation. By combining solar and wind assets at Khavda, the company continues to deepen its presence in long-term clean energy supply arrangements aligned with India’s renewable transition goals. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.