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Business EconomyPosted at: Oct 19 2021 6:25PM


Adani group companies to invest over $50-70 billion in renewable energy value chain

New Delhi, Oct 19 (UNI) Adani group companies will invest over $50-70 billion in the renewable energy value chain and have committed 70 per cent of planned capex until 2030 to energy transition.

Hydrogen is a game changer and Adani’s green energy portfolio will expand to become one of the world’s largest green hydrogen producers, Adani Group Chairman Gautam Adani said on Tuesday.

''Over the next decade, the Adani portfolio companies in the energy and utility business will invest over $20 billion in renewable energy generation and the overall organic and inorganic investments across the entire green energy value chain will range between $50 billion and $70 billion,'' he said.

''Over 70 per cent of its planned capex until 2030 would be in sustainable technologies. This includes investments with potential partners for electrolyzer manufacturing, backward integrations for component manufacturing to secure the supply chain for the solar and wind generation businesses, and AI-based utility and industrial cloud platforms,'' he added.

''When combined with India's cost and locational advantages, this will enable Adani to produce the world’s least expensive green electron and be on track to become the world’s largest renewable power portfolio by 2030,'' Adani said on the side-lines of the UK’s Global Investment Summit at the London Science Museum.

The Global Investment Summit, organized by the UK Government, was held on October 19 at the Science Museum, London. It featured Prime Minister Boris Johnson, members of the royal family, British MPs, technologists and global investors.
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