{"id":62850,"date":"2024-05-31T05:33:15","date_gmt":"2024-05-31T05:33:15","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/31\/adani-green-risks-missing-targets-report-times-of-india\/"},"modified":"2024-05-31T05:33:16","modified_gmt":"2024-05-31T05:33:16","slug":"adani-green-risks-missing-targets-report-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/31\/adani-green-risks-missing-targets-report-times-of-india\/","title":{"rendered":"Adani Green risks missing targets: Report &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/photo\/msid-110577872,imgsize-12946.cms?fit=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Adani Green risks missing targets: Report &#8211; Times of India\" title=\"Adani Green risks missing targets: Report &#8211; Times of India\" \/><\/div>\n<div>NEW DELHI: The <!-- -->renewable energy<!-- --> unit of billionaire <!-- -->Gautam Adani<!-- -->&#8216;s empire is at risk of missing key growth targets unless it resorts to a share issue to consolidate its finances, according to a report by London-based <!-- -->Snowcap Research<!-- -->.<br \/>Adani Green Energy<!-- --> is falling short of its stated return targets, Snowcap said in a 51-page report on Thursday. The lower returns, coupled with rising debt-financing costs, mean the firm may not have sufficient funding to meet its 2030 renewable energy goal.<br \/>The company &#8220;can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is &#8216;fully funded&#8217;,&#8221; Snowcap said.<!-- -->It added that Adani Green isn&#8217;t meeting a target announced in 2021 of returning 17% on capital through 2025. Based on Snowcap&#8217;s analysis, Adani Green more likely delivered an 11-12% return on capital on projects completed over the past three years &#8211; in line with the company&#8217;s peers &#8211; at a 9.5% cost of debt.<br \/>A representative for Adani Green said the company &#8220;categorically rejects&#8221; the analysis published by Snowcap. &#8220;The report is baseless, factually inaccurate, and contains analytical errors and false allegations, all intended to negatively impact&#8221; the company&#8217;s share price, the representative said, adding that the management stands by its public disclosures.<br \/>Adani Green&#8217;s shares fell over 2.2% after the report was published but erased some of those losses soon after. The flagship for the group, Adani Enterprises, slipped as much as 2.6% on Thursday. Snowcap&#8217;s criticism comes more than a year after the <!-- -->Adani Group<!-- --> was jolted by allegations brought by short-seller Hindenburg Research. The US-based firm&#8217;s accusations of corruption and market manipulation initially wiped more than $150 billion off the Adani Group&#8217;s market value. Adani has repeatedly denied wrongdoing and those stock losses have largely been recouped.<br \/>Snowcap says it holds no positions in or against Adani Green, which is roughly 56% owned by units controlled by Adani. <\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', 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JarvisUrl=\"https:\/\/jarvis.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/adani-green-risks-missing-targets-report\/articleshow\/110577789.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The renewable energy unit of billionaire Gautam Adani&#8216;s empire is at risk of missing key growth targets unless it resorts to a share issue to consolidate its finances, according to a report by London-based Snowcap Research.Adani Green Energy is falling short of its stated return targets, Snowcap said in a 51-page report on 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