Adani to triple solar power generation capacity in 4 years

Speaking at the inaugural session of the 'TiE Sustainability Summit 2021' themed, "Where entrepreneurship meets sustainability", Gautam Adani said over the next decade, his group would invest over USD 20 billion in renewable energy generation.

Hyderabad:Having achieved the initial target of 25 Giga Watt renewable portfolio four years ahead of schedule, the Adani Group now plans to triple its solar power generation capacity in the next four years.

Speaking at the inaugural session of the 'TiE Sustainability Summit 2021' themed, "Where entrepreneurship meets sustainability", Gautam Adani said over the next decade, his group would invest over USD 20 billion in renewable energy generation.

"While these scenarios emerge, the Adani Group is not sitting still. We are tripling our solar power generation capacity over the next four years. This is a rate of growth currently unmatched by any other company anywhere on the planet," he said in his address.

The overall investments, both organic and inorganic, across the entire green energy value chain would range between USD 50 and USD 70 billion.

This would include investments with potential partners for electrolyzer manufacturing, backward integrations to secure the supply chain for solar and wind generation businesses, and AI-based industrial cloud platforms, he said.

"Our renewables portfolio has reached the initial target of 25 GW a full four years ahead of schedule. Today, we are already the world's largest solar power player. This puts us well on track to be the world's largest renewable power generating company by 2030," Adani further said.

According to him, the revolution in alternative energy technologies throws open the possibility of India someday becoming a net green energy exporter even as Hydrogen and its derivatives can replace a significant amount of the country's imports of crude oil, natural gas and coal.

PTI