Mega-Cap Adani Stock Soars 13% on Commissioning World’s Largest Wind-Solar Plant

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Mega-Cap Adani Stock Soars 13% on Commissioning World’s Largest Wind-Solar Plant
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the renewable energy company Adani Green Energy (NS: ADNA ) ended 12.81% higher on Friday at Rs 2,260.8 apiece and soared to the Rs 2,404.85 apiece level in the session.

The Adani (NS: APSE ) Group stock zoomed after the company announced commissioning the world’s largest wind-solar power plant in Jaisalmer, Rajasthan, having a capacity of 600 MW.

With this, Adani Green Energy now flaunts the highest operational generation capacity in the world, with a total of 6.7 GW, including an operational hybrid power generation capacity of 1 GW, it said.

Regarding the Jaisalmer power plant, it is a hybrid power plant, comprising solar and wind plants of 600 MW and 150 MW capacities, respectively. They will reduce the intermittency of renewable energy power, along with helping the country in optimal utilization of the transmission network, the mega-cap company stated.

It added that the Jaisalmer plant has a power purchase agreement with the state-owned Solar Energy Corporation of India (SECI) for 25 years at Rs 2.69/kWh.

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