Adani group to invest $100 billion in energy transition projects

Adani Group's Chairman- Gautam Adani announced that the company is preparing to invest over $100 billion in energy transition projects and developing manufacturing capabilities for essential components of green energy generation.

The billionaire businessman stated at an infra event organized by Crisil Ratings that over the next ten years, they will invest over $100 billion in the energy transition sector and grow their comprehensive renewable energy value-chain, which currently covers all necessary components for green energy generation.

The diversified conglomerate is in the process of building major facilities for manufacturing electrolysers in order to make green hydrogen, wind power turbines and solar panels.

By emphasising on energy transition and digital infrastructure, Adani stated that within 12 to 18 months, the nation has the potential to increase the GDP by a trillion dollars. This growth trajectory can lead to achieving a $30-trillion economy by 2050, with the market cap reaching $40 trillion from the current $5.2 trillion.

He also added that the company's estimates showed that India would be on its way to become a $10 trillion economy by FY '32 and that the 'real growth' is yet to come.

 Adani also listed out three factors that will contribute to the country’s infrastructure development- the role of government policies and governance, interconnection of upcoming infrastructure with sustainability and renewability, and lastly his own group’s role in developing infrastructure.

The group also has plans to produce the most affordable green hydrogen, which will serve as the feedstock for various industries and help them achieve sustainability targets.

For this purpose, they are already building an energy park at Khavda, which is in the Kutch region of Gujarat. This site has the potential to generate 30W of power and will increase the energy capacity to 50 gw by 2030.