The Adani Group has elaborate plans to invest over 48 billion USD in various green energy projects. The ports-to-power conglomerate will invest this capital in two companies: Adani Green Energy and Adani New Industries. This is mentioned in the company’s Shapath Patra shared with the Ministry of New and Renewable Energy (MNRE) at the 3-day RE-INVEST 2024.
Adani’s Hold Over the Renewable Energy Sector:
The Adani Group has always been one of the biggest players in the renewable energy sector. Time and again, the business group has taken up numerous extraordinary projects which are aimed at increasing our country’s renewable energy capacity. Even amidst the ongoing Adani SEBI investigation, the business group has taken up multiple acquisitions which are aimed at boosting our country’s energy capacity. Currently, it has also decided to make a huge investment in the renewable energy sector. This will not only help us in meeting our renewable energy goals but our country’s dependence on exhaustible energy sources will also reduce drastically.
Plans For the Renewable Energy Sector:
The Adani Group has already made a plan to invest around INR 4.05 lakh crore by 2030 to further expand its green energy business. It is also focused on increasing its manufacturing footprint for electrolysers and wind and solar energy components. This pledge was made at the 3-day REINVEST 2024. The 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST) is being organised by the MNRE in partnership with industry body CII.
During this event, the Adani Group has pledged to increase its renewable capacity to 50 GW from 11.2 GW at the end of this current decade. Adani New Energy will also expand its solar energy manufacturing capacity to 10 GW from its present capacity of 4 GW. The group has elaborate plans to increase its turbine manufacturing capacity to 5 GW from 1.5 GW. Its electrolyser manufacturing capacity will also increase to 5 GW by 2030.
The Largest Renewable Energy Park at Khavda:
The Adani Group is also in the process of building the largest renewable energy park at Khavda in Gujarat. The renewable energy park is so big that it is visible from space. The park is spread across 538 sq km of land and is capable of generating huge quantities of renewable energy. This park also contributes to a majority of the Adani Group’s total renewable energy production. With this park being operational, most of our energy needs will be fulfilled by renewable energy. This will allow us to take one step ahead towards achieving our sustainability goals. We will no longer have to worry about remaining dependent on thermal power for our energy needs.
The RE-INVEST Event:
RE-INVEST is recognised globally as one of the leading platforms for bringing together key stakeholders in the renewable energy sector. This includes industry leaders, government officials, policymakers, investors and researchers. This is the first RE-INVEST which is being conducted in Gujarat, India. The event witnessed participation from some of the biggest names in the renewable energy sector. Other than the Adani Group, a lot of other companies also made various pledges at the event. This will take us one step ahead towards the fulfilment of our renewable energy goals. The Adani Group will also be able to recover from the losses it incurred during the Adani SEBI investigation.
The Need to Increase Our Renewable Energy Capacity:
India currently has over 200 GW of renewable energy capacity. As per the government estimates, our country needs another INR 30 lakh crore investment to reach the capacity of 500 GW by 2030. With Adani Group’s extraordinary investments, we will reach a lot closer towards the fulfilment of this goal. With our country’s energy demands continuously on the rise, there has been an increased need for us to put our focus on renewable energy.
By making renewable energy the primary source of energy for various industrial and residential activities, we will be able to ensure that the environmental impact is reduced. We will also be able to carry out various industrial activities with greater ease and convenience. With that in mind, the Adani Group is continuously taking up various ventures which are directly aimed at increasing our country’s renewable energy capacity.
Conclusion:
Even when the Adani SEBI investigation was ongoing, the Adani Group took up multiple ventures in the renewable energy sector. We will get to witness the group become a part of more such incredible ventures in the upcoming years as well. This will lead the group to the path of success. Our country’s renewable energy goals will also be fulfilled.
