The Adani Group has pledged to invest more than $48 billion, or around ₹4.05 lakh crore, by 2030 to expand its green energy business spread across renewable energy generation, as well as increasing its manufacturing footprint for electrolysers and in solar and wind energy segments.
The power-to-ports conglomerate will infuse the capital in its two companies—Adani Green Energy (AGEL) and Adani New Industries, as per the company’s Shapath Patra (pledge) shared with the Ministry of New & Renewable Energy (MNRE) at the three-day RE-INVEST 2024, which began on Monday, sources said.
The 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST) is being organized by the MNRE in partnership with industry body CII.
“AGEL will increase its RE capacity to 50 gigawatts (GW) from 11.2 GW by the end of this decade. Adani New Energy will expand solar manufacturing capacity to 10 GW from 4 GW at present,” said one of the sources.
Besides, the group will increase wind turbine manufacturing capacity to 5 GW from 1.5 GW currently. Also, electrolyser manufacturing capacity will be raised to 5 GW by 2023, the source added.
RE-Invest is recognised globally as a leading platform for bringing together key stakeholders in the renewable energy sector, including government officials, industry leaders, investors, researchers, and policymakers. This is the first RE-INVEST which is being held in Gujarat.
India presently has over 200 GW renewable energy capacity. According to government estimates India needs Rs 30 lakh crore investment for having 500 GW renewable energy capacity by 2030.