Mumbai: Billionaire Gautam Adani, Asia’s second-richest man in the race to become the world’s most important renewable energy source, on Tuesday announced an investment of $20 billion, or just double the $10 billion invested by Asia’s richest Mukesh Ambani the week before. did.
“We will invest more than $20 billion in renewable energy generation, component manufacturing, transmission and distribution over the next 10 years,” Gautam Adani, chairman of the Adani Group, said while addressing the JP Morgan India Investor Summit on Tuesday.
Adani Group Chairman Gautam Adani said that the Adani Group is on track to become the world’s largest renewable energy generation company by 2030.
“Today, we are already the largest solar power player in the world when we account for our production, under construction and contracted projects. We did this in just two years, and our renewables portfolio spanned the full four years from our initial target of 25GW. The target has been reached. Prematurely. This puts us on track to become the world’s largest renewable energy generation company by 2030,” Adani said.
Putting money where your mouth is:
Adani Group aims to become one of the largest green hydrogen generators in the world.
“Our actions clearly indicate that we are putting our money where our mouth is,” Mr. Adani said, adding that by 2025 more than 75% of our planned capital expenditure will be in green technologies.
Currently, green business generates 43% of EBITDA from utilities.
“We will triple our renewable energy generation capacity over the next four years – from 21% now to a high of 63%. No company is manufacturing at this scale,” said Mr. Adani, the first to achieve a net To become a port company – zero emissions by 2025 – ahead of schedule.
Without naming Ambani, Mr. Adani said, “It is not just us. Others, amongst India’s strongest conglomerates, have announced significant plans in the renewable energy sector. Connecting the resources together, I have little doubt that India will continue to be a beacon of hope in its mission of creating a more sustainable world. We are in a position to set an example for most of the world’s leading countries to follow.”
During the Reliance Industries AGM in June, Mukesh Ambani announced an investment of 75,000 crore Indian rupees ($10 billion) over the next three years for renewable energy.
According to Bloomberg’s Billionaires Index, Mukesh Ambani, with a net worth of $91.9 billion, is Asia’s richest, while Gautam Adani, with a net worth of $69.1 billion, is the second richest in Asia.
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