Ahmedabad, June 7: Global brokerage firm Jefferies has expressed a bullish outlook on Adani Green Energy, Adani Power, and Adani Energy Solutions. This optimism stems from rapid capacity expansion, robust demand, and effective implementation strategies.
In its latest report, Jefferies assigned a “Buy” rating to Adani Green Energy Limited, setting a price target of ₹1,435. This reflects limited short-term gains but indicates strong long-term growth potential for the company.
The brokerage noted that the company plans to increase its renewable energy capacity from 19.3 gigawatts in FY 2026 to 50 gigawatts by FY 2030. This includes a 5-gigawatt pumped storage project and an accelerated growth of over 10 gigawatts in battery storage systems by FY 2027.
Jefferies highlighted significant development activities in Khavda, Gujarat, where a massive 30-gigawatt renewable energy capacity is being constructed, serving as a key driver for growth.
For Adani Power Limited, Jefferies maintained its “Buy” rating with a target price of ₹255, indicating an approximate 11% increase. The firm stated that the company aims to expand its capacity to 42 gigawatts by FY 2032, bolstered by a strong pipeline of long-term power purchase agreements (PPAs), enhancing revenue prospects significantly.
Moreover, Jefferies mentioned that nearly 56% of the upcoming capacity is already secured through PPAs, with management focused on fulfilling all future agreements.
Regarding Adani Energy Solutions Limited (AESL), Jefferies retained a “Buy” rating with a target price of ₹1,665, reflecting its strong position as India’s only listed pure-play transmission and distribution company in the private sector.
The brokerage noted that AESL is well-positioned to capitalize on India’s growing transmission infrastructure and the increasing deployment of smart meters. Jefferies reported that AESL is implementing transmission projects worth ₹718 billion, while its smart metering business is rapidly expanding, with over 11 million meters expected to be installed by FY 2026.
The firm anticipates robust double-digit growth in EBITDA and post-tax profits in the medium term, driven by the pace of implementation and increasing opportunities in data centers, commercial, and industrial energy solutions.
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