Adani Enterprises, part of Adani Group, has launched India’s first hydrogen fuel cell-powered truck for mining logistics in Chhattisgarh’s Raipur district.
Following the indictment of its chairman, Gautam Adani, in the United States over bribery allegations, questions are being asked about Adani Group’s ability to raise capital. With the charges related to solar, India’s PV industry has wider concerns. Adani Group refutes the allegations and says it is as robust as ever.
The Adani Group has termed the US allegations of bribery for solar contracts ‘baseless’ and added that it will seek all possible legal recourse.
Adani Group chairman Gautam Adani said this week the Group will invest $10 billion in US energy security and infrastructure projects, creating up to 15,000 jobs in America.
Adani will supply clean energy from its solar-wind hybrid project at Khavda, Gujarat, to power Google’s cloud services and operations in India.
Next decade will see Adani Group invest more than $100 billion in the energy transition space and further expand its integrated renewable energy value chain—chairman Gautam Adani at CRISIL Ratings Annual Infrastructure Summit 2024.
Earlier this year, Adani Group also announced pumped storage investments in Tamil Nadu and Telangana.
Adani Green Energy will set up 1.35 GW of pump storage projects with an investment of over INR 5,000 crore ($601.48 million) in the Indian state of Telangana. Adani Enterprises Ltd (AEL) will also invest over INR 5,000 crore in a 100 MW data centre, powered by renewable energy.
Gautam Adani, chairman of Adani Group, says vertical integration at scale promises the greatest acceleration towards reducing the cost of green hydrogen from the current $3-5 per kilogram (kg) to the $1/kg mark.
Reliance Industries and Adani Group, which have made big investments in creating an integrated renewable energy ecosystem in Gujarat, announced their further plans for the state at the 10th Vibrant Gujarat Global Summit.
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