Business India ×
 Climate Change

Energy
Published on: Sept. 22, 2021, 2:57 p.m.
Adani’s mission green
  • Putting the money where the mouth is: Adani plans to invest $20 billion in Renewable Energy

By Business India Editorial

Close on the heels of Mukesh Ambani’s bold declaration of making India a global leader in producing green hydrogen, Gautam Adani has said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing, and will produce the world’s cheapest green hydrogen.

Speaking at JP Morgan Investor Summit, the chairman of port-to-energy conglomerate Adani Group said his company is planning to triple its renewable energy generation capacity over the next four years, move into green hydrogen production, power all data centres with renewable energy, make all its ports into net carbon zero by 2025, and spend over 75 per cent of capital expenditure until 2025 in green technologies.

He said: “(The company’s) integrated value chain, our scale, and experience puts us on the path to be the producer of the least expensive green electron anywhere in the world.”

The announcement came weeks after India’s richest man Mukesh Ambani announced an investment of Rs75,000 crore ($10 billion) in clean power and hydrogen fuel over three years.

Reliance’s ambitious plans have been seen as its direct competition with Adani Group, which has had a strong presence in the renewables space for many years. Ambani said hydrogen can be made from renewable energy at $1 per kg in a decade’s time.

Adani outlined his vision with an investment size of $20 billion and the cheapest green electron. He said no company in the world is building a renewable power portfolio on the scale the Adani group is doing.

Adani Group at present has 4,920 MW of operational renewable energy generation capacity and 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,” he 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.”

The group, he said, will triple renewable power generation capacity over the next four years – from 21 per cent to 63 per cent. “Over the next 10 years, we will invest over $20 billion across renewable energy generation, component manufacturing, transmission and distribution,” he said.

“We will be the first port business that is ahead of its target to get to net zero by 2025. This business has committed to 1.5-degree pathway through SBTi.”

It will also be the first Indian data centre company that will power all its data centres with renewable energy by 2030, he added.

“We are now India’s largest private sector power producer, largest private port operator, largest private airport operator, largest private consumer gas and electric utility business, largest private electric transmission company and largest infrastructure developer in renewables.”

Adani said over the next two decades, India will have the biggest and youngest middle class that has ever existed. Over the next decade it will be among the world’s top four countries in terms of market capitalisation. He said that India will be driven by homegrown companies and those international businesses that are truly committed to being and acting local.


Agriculture

There is an absence of climate tagging of budgetary allocation

Bihar and West Bengal most fiscally vulnerable to Climate Change

Published on Oct. 13, 2021, 3:36 p.m.

There is an absence of climate tagging of budgetary allocation

Law

The NGT may now self-ignite action either towards amelioration or towards prevention of harm

Supreme Court permits Green Tribunal to act suo motu

Published on Oct. 13, 2021, 3:32 p.m.

The NGT may now self-ignite action either towards amelioration or towards prevention of harm

Power

Green corridors, like the Green Energy Corridor will be the need of the day

Where are the green corridors?

Published on Oct. 6, 2021, 1:24 p.m.

Green corridors, like the Green Energy Corridor will be the need of the day

Power

The companies join hands to extend countrywide EV charging facility

TVS Motor, Tata Power charging ahead!

Published on Oct. 6, 2021, 11:43 a.m.

The companies join hands to extend countrywide EV charging facility

E-MAGAZINE

Healthcare

Goodyear India partners Americares India Foundation

Published on Feb. 2, 2021, 9:21 p.m.

The partnership will support COVID-19 healthcare facilities in Faridabad and Aurangabad

Environment

Tata Motors launches a 'Go Green' initiative

Published on Dec. 23, 2020, 10:34 a.m.

The company will plant a sapling for the sale of every new commercial vehicle

Women Empowerment

Tata Starbucks ties up with Educate Girls to empower women

Published on Dec. 2, 2020, 3:10 p.m.

The partnership aims to provide volunteering and educational support to those who have relocated to urban cities from villages

Environment

The public sector company is planting a tree for every retail customer visit during its TreeCheers campaign period