Adani Green Energy Launches World's Largest Battery Storage System in Gujarat Adani Green Energy has inaugurated the world's largest single-location battery energy storage system (BESS) outside China, located in Khavda, Gujarat. The project, with a total capacity of 3.37 gigawatt-hours (GWh), marks a significant milestone for the renewable energy sector. The announcement has led to a 0.55% rise in the company's share price on the stock market, with shares trading at 1,418.80 rupees on the National Stock Exchange (NSE). The project's completion in just 10 months since on-site construction began sets a record for large-scale energy storage projects globally. The BESS system is designed to enhance grid stability and ensure uninterrupted power supply during peak demand periods. It can store enough clean energy to power approximately 1 million homes for a full day. Additionally, the system can support 12 million LED bulbs for 10 continuous hours. This advancement is expected to revolutionize the renewable energy sector by providing a reliable infrastructure for grid management. The project is part of Adani Green Energy's broader renewable energy initiative in Gujarat. The company is developing a 30 GW renewable energy plant on 538 square kilometers of land in Khavda, with 9.9 GW already operational. The new BESS system complements this effort, contributing to India's goal of achieving 50 GW of renewable energy capacity by 2030. Adani Green Energy's executive director, Sagar Adani, emphasized the critical role of energy storage in India's transition to clean energy, stating that the sector's rapid growth necessitates robust storage infrastructure. The company has outlined plans to expand its battery storage capacity significantly.#gujarat #national_stock_exchange #sagar_adani #adani_green_energy #khavda
Adani Green, Adani Enterprises, Adani Ports shares rally up to 13%. Here are 3 reasons behind Rs 1 lakh crore surge Adani Group stocks surged significantly on Wednesday, with shares of Adani Green Energy, Adani Enterprises, and Adani Ports rising up to 13%. The rally followed Gautam Adani’s move to seek dismissal of a U.S. Securities and Exchange Commission (SEC) civil fraud case. The U.S. District Court granted Adani’s request for a pre-motion conference in the matter, which had been initiated by the SEC in November 2024. The SEC had accused Adani and his nephew, Sagar Adani, of orchestrating a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy, where both serve as executives and directors. The sharp rally added approximately Rs 96,000 crore to the total market capitalization of Adani Group companies during the session. Adani Green Energy shares surged as much as 13%, hitting an intraday high of Rs 1,046 on the BSE, while Adani Enterprises gained 11% to Rs 2,090. The rally was further supported by a target price upgrade from global brokerage Macquarie, which raised its target for Adani Green Energy to Rs 1,320, implying a potential upside of around 43% from current levels. The brokerage maintained its “outperform” rating and cited a strong finish to fiscal year 2026, with capacity additions of over 5 gigawatts (GW). Analysts also increased their base-case capacity estimates for the company to over 40 GW by fiscal year 2030, up from 30 GW previously. Despite this upward revision, Macquarie’s base case still implies a conservative growth trajectory, with EBITDA expected to grow at over 25% compound annual growth rate (CAGR) over the next five years.#sec #sagar_adani #adani_enterprises #adani_green_energy #adani_ports
Supreme Court Dismisses Ravi Nair's Defamation Plea in Adani Case The Supreme Court of India on Monday rejected a petition filed by journalist Ravi Nair, who had sought to challenge a defamation case registered against him by the Gujarat crime branch. The case stems from an article co-authored by Nair and Pransh Verma for The Washington Post, which questioned the state-run Life Insurance Corporation’s (LIC) reported investments in the Adani group despite U.S. indictments against billionaire Gautam Adani and his son Sagar Adani. The article, titled “India’s $3.9 billion plan to help Modi’s Moghul ally after US charge,” alleged that the LIC had invested in Adani group stocks despite allegations of fraud and bribery against the business tycoon and his executives. The court bench, comprising Justices Vikram Nath and Sandeep Mehta, questioned senior advocate Anand Grover, who represented Nair, about the legal basis for the petition. The bench emphasized that Nair’s plea under Article 32 of the Constitution, which allows individuals to approach the Supreme Court for the enforcement of fundamental rights, was not the appropriate route. Instead, the court directed Nair to file his petition under Article 226, which pertains to the High Court’s jurisdiction. The justices stated, “Why Article 32 petition? Go to the high court,” highlighting the procedural misstep in the case. The Gujarat crime branch had summoned Nair on February 12, requiring him to appear before a court on February 19. However, the Supreme Court bench ruled that the issues raised in the case could be addressed in the High Court. Nair’s legal team had sought protection from coercive actions until the case was transferred to the High Court, but the bench denied this request, noting that Nair could electronically file his petition.#supreme_court_of_india #ravi_nair #pransh_verma #gautam_adani #sagar_adani
