Gautam Adani, chairman of the Adani group, said on Wednesday that his company would invest over $100 billion, around Rs 835 crore, in the energy transition projects and manufacturing capability to produce every major component required for green energy generation.
Speaking at an event, ‘Infrastructure – the Catalyst for India’s Future’, of Crisil, Gautam Adani called energy transition and digital infrastructure trillion-dollar opportunities which would transform India both at a local and at a global scale.
“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 added.
Notabyl, besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolysers for making green hydrogen, wind power turbines and solar panels.
Green hydrogen, which is made by splitting hydrogen from water with the help of electrolysers powered by clean energy, is seen as a potential panacea for decarbonising the industry as well as transportation.
The Adani Group wants to produce the world’s least expensive green electron that will become the feedstock for several sectors that must meet the sustainability mandate.
“And to make this happen, we are already building the world’s largest single-site renewable energy park in Khavda, in the district of Kutch (in Gujarat). Just this single location will generate 30 GW of power, thereby taking our total renewable energy capacity to 50 GW by 2030,” he said.
Adani further said that the energy transition space will fundamentally change the global energy landscape forever. “The global transition market was valued at approximately $3 trillion in 2023 and is expected to grow to nearly $6 trillion by 2030, and thereafter double every 10 years till 2050,” he added.
“In the case of India, our country aims to install 500 gigawatts of renewable energy capacity by 2030. This ambitious target will require annual investments of over $150 billion dollars.
“The transition to green energy in India is expected to generate millions of new jobs in sectors such as solar and wind, energy storage, hydrogen and its derivatives, EV charging stations, as well as grid infrastructure development,” he said.