The Adani Group will invest $20 billion in renewable energy generation over the next 10 years and enter green hydrogen production as part of a plan to become the largest renewable energy firm by 2030.
Speaking at the JP Morgan India Investor Summit, Adani Group Chairman Gautam Adani said that $20 billion will be invested 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 is under execution. It has a fixed pipeline of 9,750 MW and 4,500 MW, where it is likely to win contracts.
“Today, we are already the largest solar power player in the world when we account for our production, under construction and contracted projects. We have done this in just two years and our renewable energy portfolio is 25 GW, four years ahead of schedule. has reached our initial target of Rs.
“Our actions clearly indicate that we are putting our money where our mouth is: by 2025 more than 75 percent of our planned capital expenditure will be in green technologies. Today, 43 percent of our EBITDA from utilities is already from the green business. ” she added.
The group will triple renewable energy generation capacity over the next four years – from 21 percent now to 63 percent.
The group has been making some big ticket acquisitions in the region over the past year. Adani Green Energy Limited purchased solar assets of Essel Group for an enterprise value of ₹1,300 crore. In May, Adani acquired SB Energy’s portfolio for an enterprise value of $3.5 billion.
RIL’s plan
It also comes as Mukesh Ambani-backed Reliance Industries is moving towards green energy in a big way. In June, Mukesh Ambani announced an investment of Rs 75,000 crore over the next three years in RIL’s new energy business with the aim of bridging the green energy divide in India and globally.
Under this scheme, RIL is setting up Dhirubhai Ambani Green Energy Giga Complex in Jamnagar on 5,000 acres. The first part of the plan is to build four gig factories. These will form and fully integrate all the important components of the new energy ecosystem.
.