Gautam Adani, Asia's richest man, has promised to invest ₹65,000 crore in the western state of Rajasthan in the next five to seven years and create over 40,000 direct and indirect jobs. He was speaking at the two-day Invest Rajasthan 2022 summit that began today. The investment will be made to expand the renewable energy, airport and cement portfolio of the company. Adani Group has so far invested over ₹35,000 crore in Rajasthan.

In a bid to expand its renewable energy business, Adani Group will set up a 10,000 megawatts (MW) solar power plant facility at an investment of ₹50,000 crore in the next five years. “Continuing our investment in the renewables business, another 10,000 megawatts, with an investment of ₹50,000 crore, is under implementation – and this will be commissioned progressively over the next 5 years. In this context – just a week ago – we also achieved commercial operation of the world’s largest wind-solar hybrid power plant – and it is in Rajasthan,” Adani said.

With the investments already made, Adani Group has set up a 1,320 megawatt Kawai Power Plant, a solar park of 10,000 megawatts in partnership with state government, which has the production capacity of 1,500 megawatts, and have commissioned projects of over 4,000 megawatts at an investment of ₹20,000 crore.  

“Over the past decade, we have been supplying fuel to help Rajasthan generate over 4,300 megawatts of thermal power,” he said.

“The Adani Group is also making one of the world’s largest bets on Energy Transition. In this process, we are betting on green hydrogen, given our ability to generate the most inexpensive solar and wind power. I believe this opportunity to generate green hydrogen to transform Rajasthan’s deserts into ‘an oasis of jobs enabling energy transition is an opportunity that no other state has,” he added.

Moreover, as Adani Group became the second-largest cement manufacturer in India, with the recent acquisition of Ambuja Cements and ACC, the company is planning to make an investment worth ₹7,000 crore to double the company’s manufacturing capacity in the state. The company already has three cement plants and limestone mining assets in the state.

Meanwhile, in order to expand its port business, Adani Group will be expanding Jaipur airport into a world-class facility, to ensure the supply of PNG and CNG. “Other projects in various stages of execution and expansion include expanding the Jaipur airport into a world-class facility, developing our networks to supply PNG and CNG and accelerate cleaner fuel availability to industrial, commercial, transport and domestic consumers, and new transmission projects to move the renewable power being generated,” he said.

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