Adani Group Outlines $70 billion Green Energy Plan
It is said that Gautam Adani is not used to thinking small. His emergence as one of the most formidable names in the infrastructure space was largely thanks to his aggressive approach to doing business. The latest example is his big bet on green energy. The latest big numbers may sound mindboggling, but that is the kind of plans that Adani has for green energy. The group will invest $50-70 billion over next 10 years in the green energy space.
Check - Adani Pays $3.50 Billion in SB Energy Holdings
Speaking at the Global Investment Summit in UK, Adani outlined his base plan to invest $20 billion over the next 10 years purely in renewable energy generation. In addition, the total organic and inorganic investments in the entire spectrum of green energy would end up in the range of $50 to $70 billion. At the upper end, that is roughly Rs.530,000 crore.
Adani has gone further to underline that out the total investments planned by the Adani group across various businesses, nearly 70% of the investments would only be in the area of sustainable technologies. This will include electrolyzer manufacturing, backward integration into sustainable energy components, supply chain products for renewables etc. In addition, the group will also invest in the confluence of digital and green energy like AI and Cloud.
Here are specific targets outlined by Gautam Adani at the Summit
a) Adani Green Energy will triple its renewable power generation capacity over the next 4 years from 25 GW to 75 GW. Adani Green is already the world’s largest solar power producer as of date in terms of installed capacity.
b) Adani group plans to become one of the largest green hydrogen producers in India and also emerge as the cheapest producer of hydrogen. This is an area where even Reliance Green is very active and aggressive.
c) The Adani group plans to become the world’s largest renewable energy company by 2030; as a dominant player straddling the entire chain from manufacturing equipment, producing supply chain components as well as actual renewable power generation.
In the last Reliance AGM, the group had outlined plans to invest $10 billion in green energy and become net carbon neutral by 2035. It looks like the Adani group is leaving no stone unturned to stamp its impact on green energy.
Start Investing Now!
Open Free Demat Account in 5 mins