Our renewables.digital research team has identified Adani Green Energy Limited as India`s largest renewable energy developer, with a renewable capacity of over 14.500 MW. Based on the company’s installed capacity, investment volume and project pipeline, the renewables.digital team concludes that Adani Green Energy Limited is one of the largest renewable energy developers not only in India but also in Asia.
Which renewable energy assets is Adani Green Energy developing?
The company was incorporated as Adani Green Energy Limited in 2016. It is majority-owned by the Indian conglomerate Adani Group, which is a major international coal mining enterprise, and minority-owned by the French energy company TotalEnergies. Its core business activities include developing, building, owning, operating and maintaining utility-scale, grid-connected solar and wind farm projects. Thanks to the support of TotalEnergies and the Adani Group in particular, Adani Green Energy has access to major sources of expertise and relevant infrastructure to further expand its business. Sub-branches of the Adani Group deliver power transmission and distribution services, as well as hydrogen projects. Most importantly, they manufacture solar PV and wind turbines, as well as their components. This gives Adani Green Energy a significant competitive advantage in both the local and global markets.
To date, Adani Green Energy has developed a renewable energy portfolio totalling 14,500 MW. 10,100 MW of this consists of solar energy projects, while a further 1,900 MW of operational wind energy capacity and 2,300 MW of hybrid projects complete the portfolio. This equates to around 10% of India’s installed utility-scale solar and wind capacity. The portfolio comprises 54 operational projects and 12 projects under construction. Most of these projects are backed by long-term Power Purchase Agreements (PPAs) with central and state government entities, lasting 25 years.
Overview of Adani Green Energy’s business activities
Thanks to its clear focus and the support it receives from its parent company, Adani Green Energy has become India’s largest and fastest-growing pure-play renewable energy company. In 2024 alone, the company added 3.3 GW to its renewable energy portfolio. By 2030, the company aims to achieve an installed renewable energy capacity of 50 GW, which would require an addition of 7 GW every year. A key project in achieving this goal is the development of the world’s largest renewable energy plant in Khavda. The project’s planned operational capacity is 2,250 MW, generated from solar and wind energy.
Alternative candidates for the Indian renewable energy developer ranking
ReNew Private Limited is another Indian renewable energy company aiming to become a global leader in the clean energy transition. Founded in 2011, Renew was one of the fastest clean energy companies to achieve the 10 GW milestone in 2024. Today, its renewable energy portfolio has a total installed capacity of 18.5 GW, marking 5% of India’s total renewable energy capacity. Despite having a larger renewable energy portfolio, Adani Green Energy remains our top-ranked Indian renewable energy developer. This is mainly due to their unique market position and ambitious goal of developing 50 GW by 2030. Nevertheless, we will closely monitor the future business developments of both companies.
Tata Power is another of India’s leading renewable energy companies. With over 5,500 MW of renewable energy projects, primarily in solar and wind energy, Tata Power is making a significant contribution to India’s energy transformation. Nevertheless, it cannot reach the capacities of Adani Green Energy and Renew.
Picture Source: Antonio Garcia via Unsplash
