Adani Group will invest more than $100 billion of capital in India over the next decade, with 70 percent of the investment for Energy Transition space, said the conglomerate’s founder Gautam Adani at the Forbes Global CEO Conference in Singapore today. Adding to the existing 20GW renewable portfolio of the group, the roughly $70 billion capital infusion will contribute another 45GW of hybrid renewable power generation. The group, under the banner of Adani new Industries, plans to augment the additional GWs over a 1,00,000 hectares of land, which is roughly 1.4 times the size of Singapore.
Addressing the 20th Forbes Global CEO conference as a keynote speaker, Gautam Adani called the ‘Energy Transition’ sector as the top priority for the conglomerate, followed by Digital Transformation. Fueling the energy transition sector with $100 billion over 10 years, the group envisions the commercialisation 2of three million metric tonnes of green hydrogen. It may be noted that another billionaire Mukesh Ambani’s Reliance Industries too has committed $10 billion investment into new and renewable energy in India over the years leading up to 2030.
Gautam Adani said about his Adani Group: “We are already the world’s largest solar player, and we intend to do far more. In this context, Adani New Industries is the manifestation of the bet we are making in the energy transition space.” He further elaborated about the planned $70 billion investment as to how the money will be used. “It is our commitment to invest 70 billion dollars in an integrated green hydrogen-based value chain.” “This multifold business will see us build 3 giga factories in India.”
The Adani group is currently under the process of setting up a 10GW silicon-based photovoltaic value chain. In addition, a 10GW integrated wind-turbine manufacturing facility and a 5GW hydrogen electrolyser factory are also in the process of building. The value chains will help the group align their line of sight with the vision to become one of the least expensive producers of green hydrogen.