Adani, Reliance among others to invest in renewable power

14 Jul 2022 CW Team

In a bid to become the largest renewable power generating company in the world by 2030, the Adani Group looks to invest over Rs 1.5 lakh crore in the renewable energy space over the next decade. It will be in addition to its plan to invest $50 billion in green hydrogen manufacturing, along with the French joint venture partner Total.

N Chandrasekaran, chairman of Tata Group, said at the annual general meeting of Tata Power that they will invest Rs 75,000 crore in the next five years to create renewable capacities. Tata Power already floated a new company, Tata Power Renewable Energy Ltd, for building the portfolio and it received an investment commitment of Rs 4,000 crore from the BlackRock Real Assets-led consortium, which includes Mubadala Investment Company also.

Mukesh Ambani plans to invest Rs 75,000 crore by 2024 to build end-to-end solar power generation facilities. He wants to build four 'Giga' factories in Jamnagar to make solar photovoltaic cells, green hydrogen, batteries, and fuel cells at an investment of Rs 60,000 crore. These manufacturing units will power his dreams to build 100GW of solar energy generation capacity.

Reliance Industries, through its subsidiary Reliance New Energy Solar, will invest an additional Rs 15,000 crore in the value chain, partnerships, and future technologies, including upstream and downstream industries. Saudi Aramco, which called off the Rs 1 lakh crore investment in Reliance Oil to Chemicals (O2C) last year, has been exploring investment options in Reliance New Energy Solar Ltd.

Sajjan Jindal’s JSW Energy Ltd has laid out a Rs 75,000 crore plan for its renewable campaign. The company will add about 15.4 gigawatts of solar, wind, and hydropower capacities by March 2030, according to its 2022 annual report. The power producer aims to become carbon neutral by 2050.

Reliance Industries, Adani, Tata, and JSW will make an aggregate investment of nearly Rs 4 lakh crore in 5-10 years in the renewable power segment. The business houses are at various stages of discussions to borrow massively for their greenfield solar and wind projects, acquisitions, and building manufacturing facilities. In addition, they look for strategic investments to meet their funding requirements. In a bid to become the largest renewable power generating company in the world by 2030, the Adani Group looks to invest over Rs 1.5 lakh crore in the renewable energy space over the next decade. It will be in addition to its plan to invest $50 billion in green hydrogen manufacturing, along with the French joint venture partner Total. N Chandrasekaran, chairman of Tata Group, said at the annual general meeting of Tata Power that they will invest Rs 75,000 crore in the next five years to create renewable capacities. Tata Power already floated a new company, Tata Power Renewable Energy Ltd, for building the portfolio and it received an investment commitment of Rs 4,000 crore from the BlackRock Real Assets-led consortium, which includes Mubadala Investment Company also. Mukesh Ambani plans to invest Rs 75,000 crore by 2024 to build end-to-end solar power generation facilities. He wants to build four 'Giga' factories in Jamnagar to make solar photovoltaic cells, green hydrogen, batteries, and fuel cells at an investment of Rs 60,000 crore. These manufacturing units will power his dreams to build 100GW of solar energy generation capacity. Reliance Industries, through its subsidiary Reliance New Energy Solar, will invest an additional Rs 15,000 crore in the value chain, partnerships, and future technologies, including upstream and downstream industries. Saudi Aramco, which called off the Rs 1 lakh crore investment in Reliance Oil to Chemicals (O2C) last year, has been exploring investment options in Reliance New Energy Solar Ltd. Sajjan Jindal’s JSW Energy Ltd has laid out a Rs 75,000 crore plan for its renewable campaign. The company will add about 15.4 gigawatts of solar, wind, and hydropower capacities by March 2030, according to its 2022 annual report. The power producer aims to become carbon neutral by 2050.

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