Adani Group to invest $ 20 billion in power sector in 10 years

Adani Group plans to invest more than $20 billion in renewable energy generation, component manufacturing, transmission and distribution over the next 10 years. Group Chairman Gautam Adani while addressing the JP Morgan India Investor Summit said that as far as we are concerned, the Adani Group is in line with India’s position in terms of sustainability. We will exceed the targets signed by India, including India’s NDC target of achieving 33-35 percent intensity reduction. We also believe that our integrated value chain, our extensive scale and experience lead us on the path to becoming the least expensive green electron producer anywhere in the world. Adani said that their group is already the world’s largest solar power company by virtue of its production, under construction and contracted projects which it has achieved in just two years and our renewable portfolio is expected to reach 25 GW four years ahead of schedule. Our initial goal has been reached.

This sets us on the path to become the world’s largest renewable energy production company by 2030. It also opens many new avenues for us, including making us one of the largest green hydrogen producers in the world. Our actions clearly indicate that we are spending our money in the right place. He said that by 2025, more than 75 percent of our planned capital expenditure will be in green technology. Today, 43 percent of our EBITDA from utilities is already from green business. We will triple our renewable energy generation capacity in the next four years, from 21 per cent now to a high of 63 per cent. No company is manufacturing on this scale.