The Adani Group plans to invest $60 billion across renewables, power generation, and transmission and distribution (T&D) by FY32.
The group outlined its plans in an investor presentation, projecting more than $21 billion in investments by FY30 to expand renewable energy capacity from 14.2 GW in FY25 to 50 GW by the end of the decade. Its renewable energy arm, Adani Green Energy (AGEL), operates utility-scale solar and wind projects and is developing what it calls the world’s largest renewable park at Khavda in Gujarat.
Transmission and distribution push
Adani Energy Solutions (AESL), which handles transmission, distribution, smart metering and cooling, will put in over $17 billion to scale its network. The company targets 30,000 km of transmission lines by FY30, compared with 19,200 km as of March 2025.
Adani Power will invest $22 billion by FY32 to lift its capacity to 41.9 GW from 17.6 GW in FY25. The company is the country’s largest private thermal power producer, with plants across Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand and Tamil Nadu, besides a 40 MW solar unit in Gujarat.
India’s growing power demand
The group said India is among the world’s fastest-growing power markets, with installed capacity expected to more than double to 1,000 GW by FY32 from 475 GW in FY25. It estimated investment opportunities of over $500 billion across the sector, driven by demand from electric vehicles, data centres, urbanisation and industrialisation.
The country’s renewable capacity stood at 172 GW in FY25, ranking fourth globally, and could grow to 571 GW by FY32, creating $300 billion worth of opportunities. Solar power is expected to expand rapidly, with capacity additions of more than 23 GW in FY25 alone.
Thermal power capacity is projected to rise from 247 GW in FY25 to 309 GW by FY32, requiring an additional 80 GW of coal-based plants and $91 billion in investments. “Coal remains the backbone of India’s baseload power, delivering stable supply amid rising demand and renewable variability,” Adani Power said.
On the network side, transmission lines are expected to grow from 494,000 km in FY25 to 648,000 km by FY32, offering a $110 billion investment opportunity, the group said.
