Published on 25th September 2021
Gautam Adani's group is set to invest more than $20 billion in a renewables ecosystem over the next ten years, just days after fellow Indian billionaire Mukesh Ambani committed to clean energy projects.
Adani, head of the conglomerate, said at JPMorgan's Sixth India Investor Summit that the money would be invested in renewable energy generation, component manufacturing, transmission, and distribution.
Over the next four years, the ports-to-power conglomerate plans to increase its renewable electricity-producing capacity from 21% to 63%. No other company in the world is ramping up to this scale, according to Adani.
He claims that by 2030, the company would be the first in India to use renewable energy to power all of its data centers. According to the billionaire, the corporation has set aside 75 percent of its anticipated capital investment until 2025 for green technologies.
Adani's green plan comes on the heels of Mukesh Ambani's declaration that Reliance Industries Ltd. will invest Rs 60,000 crore over the next three years to build and supply a fully integrated end-to-end renewable energy ecosystem. Reliance has also pledged to achieve net-zero carbon emissions by 2035.
According to Adani, his company aims to develop an integrated value chain, scale, and experience, putting the country on track to become the world's lowest-cost green electron producer.
He claims that the company will be the first port company to achieve net-zero emissions by 2025.
He said that the Adani Group has already begun to digitize the country through enterprises such as data centers, industrial clouds, and the Adani Digital Labs.