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Adani Green Energy puts Rs 10,000-crore capex plan under review

Company to reduce capex in near term; execs say large part of it can be discretionary

Shreya Jai Abhijit Lele New Delhi/Mumbai

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4 min read Last Updated : Feb 20 2023 | 10:27 PM IST

India’s largest green energy company, Adani Green Energy (AGEL), has decided to review its capital expenditure (capex) plan of Rs 10,000 crore for financial year 2023-24 (FY24). In a post-third quarter results call with its bond holders, AGEL’s management said this was a tentative target and was still under review.

This marks a change in AGEL’s stated plans on its capex. Last week, addressing the earnings call, the AGEL management had said it has planned a capex of “broadly” Rs 10,000 crore for FY24 and a similar amount for FY25.

“Short-term capex (12-18 months) is being reviewed. In the near term, there will be a slow down in our target. We will revisit our discretionary capex and reduce our capex in the near term,” the management said in the call with fixed-income investors on February 16. Business Standard has reviewed the audio of the meeting.