Adani plans to invest $50-70 billion in green energy over 10 years
India’s low cost and location advantage could help Adani to produce the cheapest green electron by 2030 making India the world’s cheapest hydrogen producer
Adani Group company will invest between $50 billion and $70 billion over the next decade in green energy, stated Gautam Adani on the sidelines of Global Investment Summit in London
The Global Investment Summit took place at the London Science Museum, where he spoke to business leaders. The UK Government hosted the summit, which featured Prime Minister Boris Johnson, members of the royal family, British MPs, technologists, and global investors.
“In the coming decade, Adani’s Energy and Utility portfolio companies will invest more than $20 billion in renewable energy generation, and overall organic and inorganic investment will range from $50 billion to $70 billion across the entire Green Energy Value Chain,” Adani Group Chairman, Gautam Adani stated.
By 2030, around 70% of Adani Group’s planned capex is to be used for sustainable technologies including investment with potential electrolyzer production partners, backward integration in the production of components for securing the solar and wind generation business supply chain, and AI-based utility and industrial cloud platforms, he further added.
“In combination with Indian cost and locational benefits, Adani is going to be able to produce the cheapest green electron in the world and by 2030 and will lead the way to become the largest portfolio of renewable power in the world,” claimed the Adani Group Chairman.
This will lead Adani to become one of the world’s largest green hydrogen producers, along with making India the world’s cheapest hydrogen producer, he added further.
“In the next 4 years, Adani Green Energy will triple its renewable power generation capacity – with an unmatchable scale and speed for any company in the world. AGEL is also strengthening its position as the world’s largest solar power developer by achieving its initial 25 GW target four years in advance,” Adani noted.
In reference to the growing call for India to announce net-zero targets, Adani noted that a net-zero number that is out of sync with a nation’s development agenda could create further disequilibrium across global sustainability initiatives.
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