Gautam Adani says group to invest $20 billion on clean energy technology in 10 years


Adani Group chief Gautam Adani has said that the conglomerate will invest over $20 billion on clean energy, supporting equipment manufacturing units and infrastructure over the next 10 years.

Gautam Adani has earlier expressed his ambitions of making the group the world’s largest renewable power company by 2030. On Monday, talking at the JP Morgan India Investor Summit he said that group will make the mega investment across the clean energy value chain.

“Over 75% of our planned capex until 2025 will be in green technologies,” Adani said.

“Over the next 10 years, we will invest over 20 billion dollars across renewable energy generation, component manufacturing, transmission & distribution.”

Earlier this year in June, billionaire Mukesh Ambani said that

, a recent entrant in the clean energy space, will investment of Rs 75,000 crore ($10 billion) over the next three years to build a new clean energy business to fuel its commitment to be net carbon neutral by

2035.

“We will triple our renewable power generation capacity over the next four years – from 21% now to a high of 63%. No company is building at this scale,” Adani said.

Adani said that there was an urgent need for countries to collectively work to mitigate the climate change risks. “As if the pandemic were not enough, yet another challenge looms ahead of us and India will have to play a major balancing role. If the crisis in 2001 was the bursting of the dot-com bubble, and in 2007 the bursting of the housing bubble, and if in 2020 the crisis was the pandemic, we now have to collectively confront and manage the crisis of climate change,” he said.

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But he criticized the developed nations their expectations from developing economies like India and their “impractical” suggestions of alternatives to deal with climate change even as “west sits on a carpet of carbon soot several centuries deep.”

He said there is a need for a more equitable solution.

“Those criticising our reluctance to directly adopt western advice on climate change must deeply consider the disparity in the situation. It is impractical to suggest alternatives that the developing world does not have, cannot use, and cannot afford,” Adani said.

Speaking of the group’s other businesses, Adani said that it will continue to focus on infrastructure sectors that are underserved, and grow by expanding into adjacent sectors and incubate new businesses within Adani Enterprises, which when ready will be spun off as independent publicly traded companies.

“We will be the first port business that is ahead of its target to get to net zero by 2025…We will be the first Indian data centre company that will power all its data centres with renewable energy by 2030,” Adani said.

Adani said that the company has big plans to expand two of its new businesses—airports and digital business. “We will not only scale the existing (Mumbai) airport but also operationalize the Navi Mumbai International Airport by 2024,” he said.

The digital business will include all of the group’s digital-related ventures– data centres, industrial clouds, and the Adani Digital Labs. Earlier this year we established Adani Digital Labs as a part of Adani Enterprises to be able to provide a unified experience to all our end consumers.

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