Business
Adani Green Energy revenue increases 33% in FY24
Adani Green Energy Ltd (AGEL), a pure-play renewable energy company, recently announced financial results for the quarter and year ending 31 March 2024.
AGEL is developing the world’s largest renewable energy project of 30,000 MW on barren land at Khavda in Gujarat, India. Spread across 538 sq km, it is five times the size of Paris. Within just 12 months of breaking ground, AGEL has operationalized 2,000 MW. AGEL is deploying the latest renewable energy technologies such as n-type bifacial solar modules and India’s largest 5.2 MW wind turbine maximizing energy generation and minimizing the levelized cost of electricity, a press release said.
The release added: ‘AGEL is setting a precedent for how innovative technology, execution capabilities, digitization, a robust supply chain network, and long-term infrastructure financing, combined with sustainable practices, can drive the clean energy transition and decarbonization on a giga scale.
‘Amit Singh, Chief Executive Officer, Adani Green Energy Ltd, said, “I am immensely proud of the team for successfully deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda, Gujarat, India in just 12 months of breaking ground. Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum.
‘The sale of energy increased by 47% YoY to 21,806 million units in FY24 primarily backed by strong capacity addition, consistent solar CUF, and improved wind and hybrid CUF.
‘The solar portfolio CUF remained consistent at 24.5% in FY24 with improved plant and grid availability while the solar irradiation was relatively lower.
‘The wind portfolio CUF improved by 420 bps YoY to 29.4% in FY24 with improved plant availability, grid availability, and wind speed.
‘The solar-wind hybrid portfolio CUF improved by 520 bps YoY to 40.7% in FY24 backed by higher CUF profile projects commissioned in the second half of FY23 as well as improved plant and grid availability.
‘Additionally, AGEL has also finalized numerous projects with a focus on environmental, social, and governance (ESG) considerations.
‘In March 2024, the Science Museum in London, UK, opened Energy Revolution: The Adani Green Energy Gallery, a major new gallery that explores how the world can generate and use energy more sustainably to urgently decarbonize to limit climate change. The gallery is sponsored by AGEL and through striking displays of contemporary and historic objects from the UK and abroad, interactive digital exhibits, and specially commissioned models, the gallery shows how the past, present and future are shaped by human imagination and innovation and explores how we all have a role to play in deciding our energy future.
‘AGEL is ranked 1st in Asia and amongst top 5 companies in RE sector globally in latest ESG assessment by ISS ESG and placed in prime ‘B+’ band for robust ESG practices and displaying very high level of transparency
‘AGEL’s renewable energy capacity target is now revised upwards to 50 GW by 2030. AGEL is committed to lead large-scale renewable energy deployment in South Asia, including Sri Lanka.’
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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