Tatsat Chronicle Magazine

Adani Group to invest $20 billion in renewable energy

September 22, 2021
adani group

Speaking at the recent JP Morgan India Investor Summit, Adani Group chairman Gautam Adani on Tuesday said his group would invest Rs 1.47 lakh crore ($20 billion) over the next 10 years on renewable energy generation and component manufacturing and will produce the world’s cheapest green electron.

The group plans to triple renewable power generation capacity over the next four years by investing in green hydrogen production, power all data centres with renewable energy, turn its ports net carbon zero by 2025, and spend over 75 per cent of capital expenditure until 2025 on green technologies, he said.

Adani Group’s “integrated value chain, our scale, and experience put us on the path to be the producer of the least expensive green electron anywhere in the world,” he said.

The group currently has 4,920 MW of operational renewable energy generation capacity and another 5,124 MW under execution. It has a confirmed pipeline of 9,750 MW and another 4,500 MW where it is likely to win contracts.

“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.,” Adani said.

“We will be the first port business that is ahead of its target to get to net carbon zero by 2025. This business has committed to a 1.5-degree pathway through SBTi.,” he added.

Earlier, Mukesh Ambani announced an investment of ₹75,000 crores ($10 billion) in clean power and hydrogen fuel over three years.