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					</table><p>Adani Green Energy (<a href="https://www.adanigreenenergy.com/" target="_blank" rel="noopener">AGEL</a>) reported a 31% year-over-year (YoY) revenue surge, from ₹25.28 billion (~$291 million) to ₹33.13 billion (~$382 million) in the first quarter (Q1) of the financial year (FY) 2026.</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹31.08 billion (~$358 million), up 31% from ₹23.74 billion (~$283 million) in Q1 FY 2025. The company also reported a 25% increase in cash profit, which rose to ₹17.44 billion (~$201 million) from ₹13.90 billion (~$166 million).</p>
<p>Earnings per share came in at ₹4.26 (~$0.049) against ₹2.63 (~$0.03) in the previous quarter.</p>
<p>AGEL’s revenue, EBITDA, and cash profit growth were a result of renewable energy capacity addition of 4.9 GW in Gujarat and Rajasthan, and enhanced project performance.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82493 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.2.png" alt="" width="521" height="289" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.2.png 521w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.2-300x166.png 300w" sizes="(max-width: 521px) 100vw, 521px" /></a></p>
<p>The company operationalized 2,463 MW of solar projects in Gujarat, 1,050 MW in Rajasthan, and 250 MW in Andhra Pradesh. It also commissioned 585 MW of wind and 534 MW of hybrid power projects in Gujarat.</p>
<p>Ashish Khanna, Chief Executive Officer at Adani Green Energy, said, “During Q1 FY 2026, we added 1.6 GW of greenfield renewable energy capacity. Our investments in the massive renewable energy development at Khavda in Gujarat, as well as other resource-rich sites, are delivering results both in terms of superior operational performance and industry-best EBITDA margins.”</p>
<p>AGEL also increased its energy sales by 42% YoY to 10,479 million units, supported by higher capacity additions. The company aims to reach a capacity of 30 GW by 2029.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82492 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1.png" alt="" width="786" height="412" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1.png 786w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1-300x157.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1-768x403.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1-650x341.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1-624x327.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/agel-1.1-600x315.png 600w" sizes="(max-width: 786px) 100vw, 786px" /></a></p>
<p>AGEL’s solar segment maintained a capacity utilization factor (CUF) of 28% backed by 99.3% project availability. The wind portfolio achieved a CUF of 42.3% at 95.5% project availability, while the hybrid portfolio demonstrated a CUF of 43.9% aided by 98.6% project availability.</p>
<p>In March this year, AGEL <a href="https://www.mercomindia.com/agel-refinances-1-06-billion-loan-for-wind-solar-projects-in-rajasthan" target="_blank" rel="noopener">completed</a> a long-term refinancing of $1.06 billion (~₹92.56 billion) for developing wind-solar projects in Rajasthan. The maiden construction facility features a 19-year tenor, with a fully amortized debt structure aligned with the cash flow lifecycle.</p>
<p>AGEL <a href="https://www.mercomindia.com/adani-green-q4-revenue-up-37-yoy" target="_blank" rel="noopener">reported</a> a revenue of ₹26.66 billion (~$312.88 million) from power supply in Q4 FY 2025, a 37% YoY increase from ₹19.41 billion (~$227.79 million).</p>


Capacity Additions Push Adani Green’s Revenues Up 31% in Q1 2026


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					</table><p>Government-owned lender Indian Renewable Energy Development Agency (<a href="https://www.ireda.in/home" target="_blank" rel="noopener">IREDA</a>) has reported a consolidated revenue of ₹19.48 billion (~$226 million) for the first quarter (Q1) of the financial year (FY) 2026, a 29% year-over-year (YoY) increase from ₹15.1 billion (~$176 million).</p>
<p>This revenue growth can be attributed to the 26% expansion of IREDA’s loan book.</p>
<p>IREDA’s profit after tax was ₹2.47 billion (~$29 million), decreasing 35% from ₹3.84 billion (~$44 million) in the same period of the previous year. This decline was attributed to an increase in the company’s non-performing assets (NPAs) to 4.13% from 2.45%.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-82237 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1.png" alt="" width="641" height="339" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1.png 641w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1-300x159.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1-624x330.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/ireda-1.1-600x317.png 600w" sizes="(max-width: 641px) 100vw, 641px" /></a></p>
<p>Its loan outstanding increased by 27% from ₹632.07 billion (~$7.3 billion) to ₹799.41 billion (~$9.3 billion). Solar had the highest share, at 24% of the total loan outstanding, followed by wind at 13%, hybrid wind and solar at 3%, and hydro power at 11%.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-82238 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/iread-1.2.png" alt="" width="450" height="478" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/iread-1.2.png 450w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/07/iread-1.2-282x300.png 282w" sizes="(max-width: 450px) 100vw, 450px" /></p>
<p>IREDA’s loan approvals grew by 29% YoY to ₹117.4 billion (~$1.3 billion), and loans disbursed saw a 31% YoY increase to ₹69.81 billion (~$1.3 billion). The company’s earnings per share came in at ₹0.91 (~$0.011), compared to ₹1.43 (~$0.017) in the same period the previous year.</p>
<p>Last quarter, IREDA <a href="https://www.mercomindia.com/iredas-q4-fy-2025-profits-up-49-as-non-performing-assets-drop" target="_blank" rel="noopener">reported</a> a 49% YoY increase in profit after tax for the fourth quarter of the FY 2025 to ₹5.02 billion (~$56.6 million) from ₹3.37 billion (~$39.3 million). IREDA attributed the increase to a decline in NPAs.</p>
<p>In April, the company <a href="https://www.mercomindia.com/iredas-fy-2025-loan-approvals-grow-27-yoy" target="_blank" rel="noopener">announced</a> a 27% rise in loan approvals to ₹474.53 billion (~$5.5 billion) in FY 2025 compared to ₹373.54 billion (~$4.3 billion) for FY 2024. Its loan disbursements rose to ₹301.68 billion (~$3.5 billion) from ₹250.89 billion (~$2.9 billion) in FY 2024.</p>
<p>In March, IREDA <a href="https://www.mercomindia.com/ireda-raises-%E2%82%B99-1-billion-through-privately-placed-tier-ii-bonds" target="_blank" rel="noopener">raised</a> ₹9.1 billion (~$106.16 million) by issuing privately placed subordinated Tier II bonds. IREDA aims to use these funds to enhance its Tier II capital to increase its net worth and capital risk-weighted assets ratio.</p>


IREDA’s Q1 FY 2026 Profits Fall 35% as Non-Performing Assets Expand

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