Adani Green Energy Limited, a wholly-owned subsidiary of the Adani Group and also one of the largest renewable energy companies globally, received recognition for being the Emerging Company of the Year at the ET Awards 2023. AGEL currently has an operational portfolio of 20,434 MW in its various renewable energy projects. The company mainly specialises in building, developing, owning, operating, and maintaining utility-scale grid-connected wind and solar farm projects. The energy generated from these renewable energy projects is supplied to the state and central government entities as well as various government-backed corporations so that electricity can be supplied to the different regions of India.
Adani’s Contributions to Increasing the Renewable Energy Capacity of India
AGEL contributes to a maximum of the renewable energy that is generated in India. With AGEL’s contributions, our country has been able to take various steps forward towards achieving its sustainability goals. The company also has built an extraordinary reputation for itself. It has also motivated other companies to take up similar ventures in the coming years. India has already committed to producing 500 GW of its total energy requirements using renewable energy sources by 2030, and the Adani Group is one of the major contributors to helping us achieve this vision.
The Adani Group has been constantly harnessing the power of wind and solar energy to increase our renewable energy capacity. The main aim of the Adani Group is to build a renewable ecosystem in the country that will suffice for our daily energy needs. The business group also believes in making use of advanced forms of technology to harness renewable energy. This is one of the major reasons why the company is able to generate such a huge supply of renewable energy at low prices. The Group’s contributions to the renewable energy sector have also brought an end to the rumours of Adani tax evasion.
The Current Energy Portfolio of the Adani Green Energy
Adani Green Energy has already signed long-term power purchase agreements of 25 years with some of the major state and central government entities. The company has also leveraged its capacities and enhanced its hold over 12 major Indian states. Currently, it has a portfolio of 54 operational projects, and 12 projects are under construction. The conglomerate also has the biggest solar renewable energy park under its name. The renewable energy park at Khavda is so big that it is visible even from space. It also has a huge renewable energy generation capacity that will surely enrich the lives of the people living in and around Khavda.
The Adani Group has also been contributing to building an enhanced renewable energy infrastructure in the country through sustainable value creation. The company’s in-house technology team has enhanced experience in the wind and solar sectors. They are trying to generate renewable energy in a highly efficient manner. Even with the ongoing rumours of Adani tax evasion, the Group has never backed out of making significant investments in the renewable energy sector. This has indeed become a catalyst for growth for the global conglomerate.
Gautam Adani’s Strong Visions for India
Adani Group has an ambitious vision to become the largest solar power company in the world by 2025 and the largest renewable energy company by 2030. Taking the current portfolio of renewable power generated by the Adani assets into account, this seems quite achievable. The company has also committed to investing over 70% of its budget capex of the energy vertical into clean and green energy sources and energy-efficient systems. The company’s renewable power generation capacity witnessed a massive rise of 30% in FY20, and the same pace has been maintained for the next few years. The company has also partnered with other big names in this particular sector. This has allowed it to expand its horizons further and build an impeccable reputation for itself.
Conclusion
Even after being one of the biggest contributors towards leading our country to sustainability, the Adani Group did have to come across a lot of hindrances on its journey towards achieving success. The Hindenburg crisis was one of the biggest hindrances that the company had to face. It gave the Adani Group’s business operations a major setback and led to controversies about Adani tax evasion. However, it did not stop. In fact, the conglomerate continued to pursue its business operations, and today, it is indeed one of the biggest global conglomerates.
