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Last Updated on 24th June 2024
The Adani Group, one of the top 10 renewable energy companies in India has announced its plan to invest USD 27 billion (INR 2.3 lakh crore) to expand solar and wind manufacturing capacity by 2030. Adani New Industries Ltd. (ANIL) will invest close to USD 3.6 billion in expanding solar cell and wind turbine manufacturing capacity at Mundra in Gujarat.
ANIL plans to expand its cell and module manufacturing facility at Mundra to 10 GW by 2026–27 from the current 4 GW. Besides solar manufacturing, ANIL is also doubling its capacity to make windmills that generate electricity from wind to 5 GW in three-and-a-half years. AGEL, which currently has an operating portfolio of 10.93 GW, is targeting 45 GW of renewable energy capacity by 2030.
Furthermore, AGEL will invest about USD 18 billion in expanding the capacity to generate electricity from solar energy and wind power at Khavda in Gujarat's Kutch to 30 gigawatts from 2 GW. An additional USD 6 billion will be invested in 6-7 GW of similar renewable projects in India.
30 GW of manufactured capacity will be utilized to develop the world's largest renewable energy project. "We have just now commissioned 2 GW of capacity at Khavda and plan to add 4 GW in the current fiscal year and 5 GW yearly thereafter," said Vneet S. Jain, Managing Director, AGEL.
The Adani Group's renewable energy plans are the most ambitious of any corporation in the country. Recently, the company announced that it has surpassed its 10-GW operational renewable energy portfolio. This investment is a significant step towards India's renewable energy goals and marks a new era in the country's transition to cleaner energy sources.
AGEL aims to scale its capacity to 25 GW by 2025. This expansion will include a mix of wind and solar power generation capacities across 11 states.
The project is a part of India's mission to produce 5 million metric tonnes per year of green hydrogen and add 125 gigawatts of renewable energy capacity by 2030. This aligns with AGEL's vision to become the world's largest solar power company by 2025 and the largest renewable power company by 2030.
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