Adani Group to invest $100 bn in green energy over 10 yrs

28 Sep 2022 CW Team

The Adani Group will invest more $100 billion in the next decade, with a substantial amount going into energy transition, group chairman Gautam Adani on Tuesday, announcing "game-changing" plans that he claimed could make India a net energy exporter.

The group has earmarked 70 per cent of its new investments for energy transition and infrastructure. "We are already the world’s largest solar player, and we intend to do far more. Adani New Industries is the manifestation of the bet we are making in the energy transition space. It is our commitment to invest $70 billion in an integrated Hydrogen-based value chain," Adani said at the Forbes Global CEO conference in Singapore.

"In addition to our existing 20 GW renewables portfolio, the new business will be augmented by another 45 GW of hybrid renewable power generation spread over 100,000 hectares - an area 1.4 times that of Singapore. This will lead to commercialisation of three million metric tons of green hydrogen." This business will see the Adani Group building three giga factories for manufacturing solar modules, wind turbines, and hydrogen electrolysers in India.

"We are in the process of building a 10 GW silicon-based photo-voltaic value-chain that will be backward-integrated from raw silicon to solar panels, a 10 GW integrated wind-turbine manufacturing facility, and a 5 GW hydrogen electrolyser factory," he said.

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