Adani Group plans to invest $50-$70 billion across green energy chain

Adani Group’s portfolio companies in the energy and utility business plan to invest over $20 billion in renewable energy generation and $50 billion and $70 billion in overall organic and inorganic investment across the entire green energy chain.  This will include investments with potential partners for electrolyser manufacturing, backward integrations to secure the supply chain for its solar and wind generation businesses and AI-based industrial cloud platforms. The Group has committed 70 per cent of planned capex until 2030 to the energy transition.

As per the company’s statement, the global effort to tackle climate change would create investment opportunities worth trillions of dollars. Next-generation high-efficiency solar panels, low-carbon materials that make even the largest offshore wind turbines affordable, mainstreaming of carbon capture technologies, various fit-for-purpose battery technologies, algorithm-driven smarter and distributed grids, electric mobility, and hydrogen-related technologies will all be among them.

Earlier this month, Adani Green Energy Limited (AGEL) completed its previously announced acquisition of SB Energy India for Rs 260 billion. In May 2021, AGEL signed share purchase agreements with SoftBank Group (SBG) and Bharti Group to acquire a 100 per cent interest in SB Energy India. SB Energy India was previously owned by SBG with an 80 per cent stake, with Bharti Group owning the remaining 20 per cent.

GET ACCESS TO OUR ARTICLES

Enter your email address