ADANIGREEN

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's subsidiary Adani Hydro Energy Five Ltd has signed a power purchase agreement with Uttar Pradesh Power Corporation Ltd (UPPCL) to supply 1,250 MW of energy storage capacity from pumped hydro storage projects. This agreement marks a significant step in enhancing renewable energy infrastructure in Uttar Pradesh. Agreement Details Parties Involved: The agreement is between Adani Hydro Energy Five Ltd, a subsidiary of Adani Green Energy Ltd, and Uttar Pradesh Power Corporation Ltd (UPPCL). Capacity: The PPA covers a substantial energy storage capacity of 1,250 MW, which will be sourced from pumped hydro storage projects. Execution Date Date of Agreement: The PPA was executed on April 23, 2025, at 3:00 p.m., indicating a timely commitment to renewable energy supply. Market Impact Stock Performance: Following the announcement, shares of Adani Green Energy Ltd traded at Rs. 952.70, showing an increase from the previous close of Rs. 942.70. Trading Activity: The stock experienced significant trading volume, with 199,224 shares exchanged in over 6,485 trades, reflecting investor interest in the company's renewable energy initiatives. Significance of the PPA Renewable Energy Goals: This agreement is a crucial part of India's efforts to expand its renewable energy capacity and transition towards sustainable energy sources. Support for UPPCL: The PPA will aid UPPCL in meeting its energy demands while promoting cleaner energy solutions through pumped hydro storage technology. Future Prospects Infrastructure Development: The implementation of this agreement is expected to enhance the energy infrastructure in Uttar Pradesh, contributing to the state's energy security and sustainability goals. Long-term Benefits: The PPA is likely to foster further investments in renewable energy projects, aligning with national objectives for reducing carbon emissions and increasing renewable energy share in the energy mix.