Adani Green to invest Rs 1.5 lakh cr in constructing the world's largest renewable energy project: MD

Adani Green Energy Ltd has unveiled plans to invest a staggering Rs 1.5 lakh crore in expanding its capacity to 30 gigawatts (GW) at its Khavda renewable energy project site in Kutch, Gujarat, over the next five years. This ambitious project, spearheaded by Managing Director Vneet Jaain, aims to establish the world's largest renewable energy endeavor, covering a sprawling 538 square kilometers of barren land in Khavda—almost equivalent to the size of Mumbai.

The company has already commenced operations for 2GW out of the total planned 30GW within just a year of initiating work. Additionally, Adani Green will allocate another Rs 50,000 crore for renewable energy projects, constituting 6-7 GW, in other locations by 2030. This initiative aligns with the broader investment strategy of the Adani Group, which intends to deploy a total of Rs 2.3 lakh crore into renewable energy.

Amidst these ambitious plans, Adani Green Energy is maintaining a distinct separation from its group entity, Adani New Industries Limited (ANIL), which specializes in manufacturing solar and wind power equipment. While Adani New Industries will contribute Rs 30,000 crore to the overall investment, Adani Green is ensuring independence in sourcing equipment, opting for the most cost-effective options available in the market.

Furthermore, Jaain highlighted the company's commitment to achieving a comprehensive manufacturing ecosystem, including wind turbines, solar modules, and batteries. Adani Green Energy already boasts an integrated manufacturing setup capable of producing 1.5 GW of wind turbine generators and 4 GW of solar equipment in Mundra, Gujarat. However, the company predominantly exports from its solar manufacturing units, while sourcing equipment for the Khavda project mainly from overseas, notably China.

Despite the synergy between Adani Green Energy and Adani New Industries, Jaain emphasized that both entities would operate at arm's length, prioritizing the acquisition of superior and cost-effective inputs. This approach underscores Adani Group's commitment to maintaining operational efficiency and maximizing returns across its diverse portfolio.

With these monumental investments and strategic initiatives, Adani Green Energy is poised to significantly contribute to India's renewable energy landscape while solidifying its position as a global leader in sustainability and green innovation.