Gautam Adani, founder and chairman of multi-business conglomerate Adani Group with a market capitalization of around $117 billion (as of today), announced his company will invest over US$20 billion in renewable energy generation and related businesses over the next ten years.
The Group will spend the amount across RE generation, component manufacturing, transmission, and distribution. It will make over 75% of its planned capex until 2025 in green technologies as it plans to triple RE power generation capacity over the next four years from 21% of the total power portfolio to a high of 63%.
Adani Group, through its arm Adani Green Energy, has a renewable energy portfolio of 25 GW—a target which it has achieved four years ahead of the 2025 scheduled timeline. The company sees itself well on track to be the world’s largest RE power generating company by 2030. It is already the world’s largest solar power player when accounting for its generating, under-construction, and contracted projects.
Addressing the J.P. Morgan 6th Annual India Investor Summit, 2021, Gautam said, there are economic opportunities arising out of the global effort to combat the climate challenge. This includes next-generation, high-efficiency solar panels, fit-for-purpose battery technologies, smarter and distributed grids, green hydrogen technologies, electric vehicles, and much more. Advances in digital technology and machine learning will further stimulate innovation across every single one of these technologies, and create their own markets.
“The marginal price of green power will drop steeply in the future as technologies mature and economics of scale kick in. This will enable the next manufacturing boom, which, in turn, will create new jobs.”
“Our integrated value chain, scale, and experience put us on the path to be the producer of least expensive green electron [electricity] anywhere in the world.”
The Group also plans to foray into green hydrogen with an aim to become one of the largest green hydrogen producers in the world, power all of its data centers with renewable energy by 2030, and make its ports net carbon zero by 2025.
Adani Group is in the business of data centers in a joint venture with EdgeConneX.
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