Tatsat Chronicle Magazine

Adani Group plans to invest between $50 and $70 billion in the renewable energy value chain, allocating 70% of planned CAPEX to energy transition through 2030

October 22, 2021

Hydrogen is a game-changer, according to Adani, and the company’s green energy portfolio will expand to include one of the world’s largest green hydrogen producers

At the Global Investment Summit on Tuesday, Adani Group Chairman Gautam Adani met with UK Prime Minister Boris Johnson. Following the meeting, the Indian business mogul said that Adani Group will invest $70 billion in solar, wind, and water energy transitions as part of its commitment to global climate change action. Gautam Adani also expressed gratitude to the UK government and the Department for International Trade for providing him with the chance. He uploaded a photo of his visit to the Global Investment Summit in London on Twitter. In the photo, the chairman of the Adani Group is seen conversing with Boris Johnson.

According to an Adani Group press statement, the conglomerate has committed to investing $50-70 billion in the renewable energy value chain over the next decade. Until 2030, the company has committed 70% of its anticipated capex on the energy transition. “In the long run, green policies and climate action that are not built on equal growth will fail. We’re literally putting our money where our mouth is “In a statement released by Adani Group, Gautam Adani was quoted as stating. He went on to say that the group’s portfolio companies are leading the way in terms of investment plans.

On October 19, the Global Investment Summit was hosted in London to stimulate international investment in the United Kingdom. Investors offered about £10 billion at the conference, according to a statement released by the UK government. “At least 30,000 new jobs will be created across the UK owing to £9.7 billion in new foreign investment,” the UK PMO said in a statement. The Group, for example, struck a pact to boost green growth, which was one of nearly 18 new deals signed. Wind and hydrogen energy, sustainable homes, and carbon capture and storage are among them, according to the UK Government, strengthening the UK’s climate leadership for COP26 and beyond.