Gautam Adani, Chairman of Adani Group, in a letter to shareholders, said that the company is aligning with India’s aim of becoming the world’s biggest player in renewable energy.
The organisation has also set a target for itself to become the biggest solar power generator in the world.
Gautam Adani told the media that a significant part of the Adani Group's future investments will focus on sustainable and renewable energy.
The Chairman wrote that Adani Group would make notable investments in sustainable and renewable energy, adding that it has managed to defeat its own target of 25 GW power generation four years before scheduled, owing to its takeover of Softbank-owned SB Energy.
In January, the group said that it strives to become the world's largest solar power generator by 2025 and later the largest renewable power company all over the globe by 2030.
Adani Group acquired the world’s largest solar tender when Solar Energy Corporation of India (SECI) gave it an 8 GW contract through a bidding process in the second quarter of 2020. In Q3 2020, Mercom said that the company became the world’s largest solar power developer.
Adani said that the company rose from the 6th position in 2019 to the 1st position in 2020 in only nine months.
Since January 2020, the value of the group's renewables business has increased over 600 times, producing one of the best returns all over stock markets. In May 2021, the group procured Softbank’s and Bharti’s 5 GW portfolio of renewable assets, allowing Adani Group to leapfrog and get to their aim of 25 GW a full four years before the schedule, Adani said. This is what templatisation means to them, and it provides them with the confidence to expand quickly over different adjacent sectors, he further added.
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