Adani Group Massive Investment in Renewable Energy and Manufacturing
In a bold move to accelerate its growth plans, Adani Group has announced a massive investment of ₹2.3 lakh crore by 2030 in India’s renewable energy sector and the expansion of solar and wind manufacturing capacity. This investment comes despite facing a short-seller attack, as the conglomerate remains focused on its ambitious goals.
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Adani Green Energy Ltd, a key player in the group, will invest approximately ₹1.5 lakh crore to increase its electricity generation capacity from solar and wind power.
The company plans to expand its capacity from 2 GW to an impressive 30 GW at Khavda in Gujarat’s Kutch region. Additionally, another ₹50,000 crore will be invested in 6-7 GW of similar projects across the country.
Adani New Industries Ltd (ANIL), a subsidiary of Adani Enterprises Ltd, will invest close to ₹30,000 crore in expanding its solar cell and wind turbine manufacturing capacity at Mundra in Gujarat. AGEL aims to achieve a renewable energy capacity of 45 GW by 2030, with 30 GW of this capacity being developed at Khavda.
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Vneet S Jaain, Managing Director of AGEL, stated, “We have commissioned 2 GW of capacity at Khavda and plan to add 4 GW in the current fiscal year, with a further 5 GW added annually thereafter.” To support these ambitious plans, ANIL plans to expand its manufacturing facility to 10 GW by 2026-27.
In addition to solar manufacturing, ANIL is also increasing its windmill capacity to 5 GW in the next three-and-a-half years.
The Adani Group, known for its diverse portfolio including seaports, electricity generation, natural gas distribution, mining, and more, has set a capital expenditure outlay of ₹1.2 lakh crore for the fiscal year 2024-25.
The renewable energy expansion at Khavda will include 26 GW of solar capacity and 4 GW of wind capacity. AGEL’s current operational portfolio comprises 7,393 MW of solar, 1,401 MW of wind, and 2,140 MW of wind-solar hybrid capacity, making a significant contribution to India’s renewable energy landscape.
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Despite facing challenges, including allegations of share price manipulation and accounting fraud, the Adani Group remains steadfast in its commitment to sustainable growth and renewable energy development. With this massive investment, the conglomerate is poised to play a leading role in India’s transition to a cleaner and greener future.
Adani Group Massive Investment in Renewable Energy and Manufacturing.
