The increase in sale of solar energy was backed by 212 megawatt (MW) capacity addition in Rajasthan and improvement in capacity utilisation factor (CUF).

The solar portfolio CUF increased by 140 bps YoY to 23.5%, primarily backed by 70 bps improvement in plant availability; 60 bps improvement in grid availability and improved solar irradiation.

The sale of energy in wind portfolio soared 157% YoY to 1,104 million units, on the back of capacity addition of 230 MW in Gujarat. The firm's CUF in this segment jumped to 41.6% in Q2 FY24, recording a growth of 1,430 bps as against 27.3% in Q2 FY23.

The wind portfolio CUF grew due significant improvement in grid availability, which was lower last year due to one-off disruption in transmission line (force majeure) for 150 MW plant in Gujarat and improved wind speed.

Sale of energy in hybrid portfolio surged 561% YoY to 2,057 million units on the back of 1,150 MW hybrid capacity addition in Rajasthan and 920 bps improvement in CUF.

The renewable energy company said its total operational capacity increased by 24% YoY to 8,316 MW in H1 FY24.

Adani Green Energy is the largest renewable energy businesses in India with a current project portfolio of 20,434 MW. Adani Group comprises the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics, Power Generation, Transmission & Distribution, Integrated Resource Management, Renewable Energy, Gas & Infrastructure, Solar Manufacturing, Real Estate, Public Transport Infrastructure, Defence & Aerospace, Mining Services, Copper, Petrochemicals, Data Centre and other sectors.

The company's consolidated net profit jumped 50.5% to Rs 322 crore in O1 FY24 as compared with Rs 214 crore in Q1 FY23.The net sales increased 35.5% YoY to Rs 2156 crore in Q1 FY24.

Shares of Adani Green Energy declined 0.28% to Rs 945.95 on the BSE.