Adani lines up $100-bn for green energy drive
Will produce every major component required for green energy generation, says its Chairman Gautam Adani
image for illustrative purpose
We want to produce the ‘world’s least expensive green electron’ that will become the feedstock for several sectors that must meet the sustainability mandate - Gautam Adani, Chairman, Adani Group
New Delhi: Adani group will invest more than $100 billion (Rs8.34 lakh cr) in energy transition projects and manufacturing capability to produce every major component required for green energy generation, its Chairman said on Wednesday.
Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolyzers for making green hydrogen, wind power turbines and solar panels. Green hydrogen, which is made by splitting hydrogen from water with the help of electrolyzers powered by clean energy, is seen as a potential panacea for decarbonizing the industry as well as transportation.
Speaking at ‘Infrastructure - the Catalyst for India’s Future’ event of Crisil, Adani Group Chairman Gautam Adani said energy transition and digital infrastructure are trillion-dollar opportunities which will transform India both at a local and at a global scale. “The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation,” he said.
The coal-to-ports group wants to produce the ‘world’s least expensive green electron’ that will become the feedstock for several sectors that must meet the sustainability mandate.
“And to make this happen, we are already building the world’s largest single-site renewable energy park in Khavda, in the district of Kutch (in Gujarat). Just this single location will generate 30GW of power, thereby taking our total renewable energy capacity to 50 GW by 2030,” Adani said. Adani said the energy transition space will fundamentally change the global energy landscape forever.
“The global transition market was valued at approximately $3 trillion in 2023 and is expected to grow to nearly $6 trillion by 2030, and thereafter double every 10 years till 2050. As many of you know, in the case of India, our country aims to install 500GW of renewable energy capacity by 2030. This ambitious target will require annual investments of over $150 billion dollars. The transition to green energy in India is expected to generate millions of new jobs in sectors,” adani said.
