Adani commits Rs 2 lakh crore to quadruple green energy capacity by 2030

The Adani Group has announced a bold initiative to ramp up its renewable energy capacity. The conglomerate plans to invest approximately Rs 2 lakh crore by 2030 to build 40 gigawatts of clean energy generation.

Sagar Adani Executive Director of Adani Green Energy Ltd shared that this massive investment aims to help the group achieve net zero emissions across its businesses by 2050. The company currently boasts over 10 GW of renewable capacity and intends to add 6-7 GW annually to reach an impressive 50 GW by 2030.

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CEO Amit Singh revealed plans for a 5 GW pump storage facility to address peak power demands during non-sunlight hours. This project along with the company’s expanding renewable portfolio will generate carbon credits crucial for the group’s net-zero ambitions.

Adani Green Energy’s recent performance has been noteworthy. In the 2023-2024 fiscal year the company added 2.8 GW of capacity accounting for 15% of India’s total renewable energy growth. Singh expressed confidence in maintaining or even surpassing this pace of expansion in the coming years.

The group is also investing in manufacturing capabilities producing solar panel components and wind turbines. They’re now eyeing the development of 3 MW wind turbines designed for areas with lower wind speeds.

This ambitious plan aligns with India’s growing energy needs and positions the Adani Group as a key player in the country’s transition to cleaner power sources.