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Adani to set up 3 gigafactories in India as part of a $70 billion investment in clean energy by 2030 gigafactory
Image Credit: UNI

Adani to set up 3 gigafactories in India as part of a $70 billion investment in clean energy by 2030

India Blooms News Service | @indiablooms | 07 Sep 2022, 11:17 pm

Asia's richest man Gautam Adani has said his conglomerate will set up three gigafactories to manufacture renewable energy equipment, including solar panels, wind turbines, and hydrogen electrolyzers.

This is part of Adani's plan to invest USD 70 billion in clean energy by 2030.

It is increasing investment in the green energy value chain to be the biggest renewable energy producer in the world by 2030.

With the fulfillment of this plan, there will be an addition of 45 GW to Adani Group's existing 20 GW capacity as well as 3 million tons of hydrogen by 2030, Gautam Adani said after receiving the USIBC Global Leadership Award in New Delhi.

This value chain will be fully indigenous and aligned with the geopolitical needs of our nation, he added.

Adani's announcement comes after, Reliance Industries chairman Mukesh Ambani announced a fifth gigafactory last week as part of an investment in low carbon energy.

Gigafactory or GigaFactory is a generic term referring to "...facilities that produce batteries for electric vehicles on a large scale". The term was initially used by the electric car manufacturer Tesla, Inc. to refer to their battery manufacturing facilities. The concept's success has led to the generalization of the term to mean any extremely large facility that manufactures batteries and other equipment used for producing clean energy.