Finace And Stock

Adani Group to invest up to $70b across clean energy value chain: Gautam Adani

Adani Group chief Gautam Adani has said that the conglomerate will invest between $50 billion to $70 billion, through organic and inorganic route, across the entire green energy value chain.

Last month, Adani had said that the group will invest over $20 billion on clean energy, supporting equipment manufacturing units and infrastructure over the next 10 years. He had earlier expressed his ambitions of making the Adani Group the world’s largest renewable power company by 2030.

“Over the next decade, we will invest over $20 billion in renewable energy generation. Our overall organic and inorganic investments across the entire green energy value chain will range between $50 billion and $70 billion. This will include investments with potential partners for electrolyzer manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms,” Adani said at TiE Summit on Monday.

The global focus on net zero carbon emission and Indian government’s push towards clean and green energy has led to investment commitments from Indian heavyweights. In June, billionaire Mukesh Ambani said that Reliance Industries, a recent entrant in the clean energy space, will investment of Rs 75,000 crore ($10 billion) over the next three years to build a new clean energy business to fuel its commitment to be net carbon neutral by 2035.

“We are tripling our solar power generation capacity over the next four years. This is a rate of growth currently unmatched by any other company anywhere on the planet. Our Renewables Portfolio has reached the initial target of 25gigawatts a full four years ahead of schedule,” Adani said.

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