Published On:September 22 2021
Story Viewed 212 Times

Adani group will invest $20 b in green push.

Adani group will invest $20 b in green push.

Adani group will invest $20 billion over the next 10 years in renewable energy generation and foray into green hydrogen production as part of a plan to become the biggest renewable energy firm by 2030.

Speaking at JP Morgan India Investor Summit, Adani Group chairman Gautam Adani said the $20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.

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.

“Our actions clearly indicate that we are putting our money where our mouth is: Over 75 per cent of our planned capex until 2025 will be in green technologies. Today, of our EBITDA from utilities, 43 per cent is already from the green business.” he added.

The group will triple renewable power generation capacity over the next four years – from 21 per cent now to 63 per cent.

The group has been making some big ticket acquisition in this space over the last year. Adani Green Energy Ltd bought the solar assets of Essel Group for an enterprise value of ₹1,300 crore. In May, Adani acquired the portfolio of SB Energy at the enterprise value of $3.5 billion.

This comes even as Mukesh Ambani-backed Reliance Industries is pivoting to green energy in a big way. In June, Mukesh Ambani announced ₹75,000-crore investment in next three years into RIL’s new energy business with the aim of bridging the green energy divide in India and globally.

As part of this plan, RIL is setting up a Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. The first part of the plan is to build four giga factories. These will manufacture and fully integrate all the critical components of the new energy ecosystem.

HBL





OUR OTHER PRODUCTS & SERVICES: Projects Database | Tenders Database | About Us | Contact Us | Terms of Use | Advertise with Us | Privacy Policy | Disclaimer | Feedback

This site is best viewed with a resolution of 1024x768 (or higher) and supports Microsoft Internet Explorer 4.0 (or higher)
Copyright © 2016-2021

Technology Partner  aaRKayeN Solutions