Adani Group will build the world’s largest hybrid power park in Khavda desert in Gujarat’s Kutch district, the company said on Tuesday, while reaffirming its plans to create 45 GW of renewable energy capacity by 2030. The park will have the capacity to generate 20 GW of green energy.
“We are now building the largest hybrid renewables park in the world — right in the middle of the desert — in Khavda. It will be the most complex and ambitious project that we have ever executed. Spread over 72,000 acres, this project will be capable of generating 20 GW of green energy, and we intend to build it faster than any project in our execution history,” Adani Group chairman Gautam Adani told shareholders at the Adani Enterprises annual general meeting on Tuesday.
The project will be executed through Adani Green Energy (AGEL), the renewable energy arm of the group. Further details were not disclosed.
Stating that the group will play a critical role in India’s net-zero journey, Adani said AGEL had earlier commissioned the world’s largest hybrid solar-wind project of 2.14 GW in Rajasthan.
The group’s operational renewable energy portfolio has grown 49% to over 8 GW, the largest in the country. The focus remains on producing the lowest cost green electron at scale, Adani said, reaffirming its earlier target of reaching 45 GW of renewable energy capacity by 2030.
He said Adani Enterprises continues to successfully demonstrate “incubation capabilities” as new businesses accounted for about 50% of Ebitda in FY23. On projects, he said two key ones — Navi Mumbai Airport and a copper smelter complex — are on schedule.
Kutch Copper, a wholly owned subsidiary of Adani Enterprises, is building an integrated copper smelting and refinery complex with an annual capacity of 0.5 MTPA. It also plans to produce copper and precious metals such as gold and silver.
Adani said Adani Ports and Special Economic Zone (APSEZ) will commission India’s largest transshipment hub in Vizhinjam, Kerala, in the next 12-24 months. The port, a transshipment deepwater multipurpose seaport, is being constructed at an estimated cost of Rs 7,700 crore. APSEZ will also commission a port in Colombo.
“The Navi Mumbai Airport is preparing for operational readiness and airport transition by December 2024,” Adani said. NDTV, which the group acquired in August last year, is expanding its global programming and coverage, he said.
The group’s data centre joint venture JV AdaniConneX is also on course to set up 350 MW capacity in the short term and 1 GW capacity in the medium term, which is the largest order book in India.
Separately, APSEZ — aiming to become the world’s largest port operator — intends to boost cargo volumes at its ports to 1 billion tonne a year by 2030. The firm intends to develop the industrial hinterland across some of its ports by working closely with state governments.
“We will gradually build port interests outside India,” APSEZ CEO Karan Adani said in the company’s annual report, adding the investments outside India are more likely to be in operational ports.