Adani to invest $100 bn in energy transition & digital infrastructure

20 Jun 2024 CW Team

The Adani Group, a major Indian conglomerate, has announced a significant investment in the country's energy transition. Gautam Adani, the group's chairman, revealed plans to dedicate over $100 billion towards clean energy projects over the next decade. This ambitious move aligns with India's national goal of installing a massive 500 gigawatts of renewable energy capacity by 2030. Adani believes this target necessitates annual investments exceeding $150 billion. The Adani Group is strategically expanding its renewable energy operations across the entire value chain. This includes manufacturing key components for green energy generation. Their focus is on becoming the world's most cost-effective producer of clean energy, aiming to power various sectors committed to sustainability goals. One of their flagship projects is the world's largest single-site renewable energy park in Khavda, Gujarat. This project is expected to generate a staggering 30 GW of power, boosting the company's total renewable energy capacity to 50 GW by 2030. Looking beyond India, Adani sees a global opportunity in the data centre sector. He anticipates a surging demand for 100 to 150 GW of additional green energy just for AI data centres by 2030. The Adani Group, already holding India's largest data centre order book, is positioned to deliver these large-scale green data centres. Adani highlights the immense potential of the global energy transition market, estimated at $3 trillion in 2023 and projected to double every decade until 2050. He emphasises the role of enabling businesses in creating opportunities for carbon credit monetisation. With India aiming to become a $10 trillion economy by 2032, Adani expects cumulative infrastructure spending to surpass $2.5 trillion. He applauds the National Infrastructure Pipeline (NIP) program, a government initiative allocating a projected investment of Rs 111 trillion for infrastructure development across various sectors by 2025.

(Source: ET Energy)

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