Indian conglomerate Adani Group has revealed its plans to invest more than INR8.34 trillion ($100bn) over the next decade in energy transition projects and the manufacturing capability of the country.
Announced at a CRISIL event on Infrastructure – the Catalyst for India’s Future by Adani Group chairman Gautam Adani, the commitment will enable the production of every major component that is required for green energy generation in India.
This will further expand the company’s integrated renewable energy value chain.
Besides, the investment is expected to position the conglomerate at the forefront of India’s renewable energy sector. Adani Group aims to capitalise on the country’s vast potential in energy transition and digital infrastructure.
According to Adani, the transition and digital infrastructure are trillion-dollar opportunities that will transform the country both locally and globally.
Adani has been quoted by various media as saying: “The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation.”
He also stated the green energy transition in India will generate millions of new jobs in various sectors. It includes solar and wind, energy storage, hydrogen and its derivatives, electric vehicle (EV) charging stations and grid infrastructure development.
In February this year, Adani Group portfolio’s renewable energy platform Adani Green Energy Limited (AGEL) commenced operations of the first 551MW solar capacity at the Khavda renewable energy park in Gujarat.
The Khavda renewable energy park, which is located in the Kutch district, will possess a clean energy capacity of 30GW.
