Adani Group announces $20bn renewable energy investment
Adani Group has revealed intentions to inject $20 billion over the next 10 years in renewable energy generation, manufacturing of components, as well as transmission and distribution.
The investment will help the Indian conglomerate’s efforts to grow its renewable power generation capacity by three folds in the coming four years.
Presently, Adani Group has an operational renewable energy capacity of 4.92GW, while 5.12GW of capacity is being implemented. The group also has a confirmed pipeline capacity of 9.75GW.
Adani Group is also planning to foray into the production of green hydrogen, while powering all its data centers with renewable energy and making its ports free from carbon emissions by 2025.
The conglomerate’s chairman and founder Gautam Adani during the JP Morgan India Investor Summit said that the group is looking to spend more than three-fourths of its capital expenditure until 2025 in green technologies, as reported by The Press Trust of India.
Gautam Adani said: “Today, we are already the world’s largest solar power player when we account for our generating, under construction, and contracted projects. We have done this in just two years and our renewables portfolio has reached our initial target of 25 Gigawatts a full four years ahead of schedule.
“This puts us well on track to be the world’s largest renewable power generating company by 2030.”