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Adani Group to invest USD 75 billion towards energy transition by 2030
Photo courtesy: facebook.com/AdaniGreen

Adani Group to invest USD 75 billion towards energy transition by 2030

India Blooms News Service | @indiablooms | 06 Dec 2023, 09:40 pm

Mumbai: Adani Group Chairman Gautam Adani on Wednesday announced plans to invest USD 75 billion towards energy transition projects by 2030.

This investment is aimed at advancing the group's goal of achieving 45 gigawatts of renewable energy capacity by the year 2030, according to a statement by Adani.

"We are committed to largescale renewables, developing an indigenous fully integrated manufacturing ecosystem and green hydrogen solutions. At the Adani portfolio level, a total investment of USD 75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," the group chairman said.

The funding will be implemented through Adani Green Energy Limited (AGEL).

"The company's outstanding performance and contribution to the renewable energy landscape have earned it the prestigious second rank among the world's foremost solar PV developers," the statement said.

AGEL has secured the position of the second-largest global solar PV developer in the most recent annual global report by the US-based Mercom Capital Group.

With an operational renewable portfolio of 8.4 gigawatts, it stands as the largest in India, spanning across 12 states and effectively offsetting more than 41 million tonnes of CO2 emissions cumulatively.

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