Gautam Adani vows to invest over $100 bn in green energy generation

Adani Group's chairman Gautam Adani today announced that over the next decade, the conglomerate plans to invest over $100 billion in energy transition projects and manufacturing facilities.

At the 'Infrastructure - the Catalyst for India's Future' event organised by ratings agency Crisil, Adani says: “The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation."

He discusses the global energy transition market's rapid growth, estimated at $3 trillion in 2023, is expected to reach nearly $6 trillion by 2030, with subsequent doubling every decade until 2050. In India, the goal of installing 500 GW of renewable energy capacity by 2030 will require annual investments exceeding $150 billion and is projected to create millions of jobs in renewable energy sectors, he opines.

“The transition to green energy in India is expected to generate millions of new jobs in sectors such as solar and wind, energy storage, hydrogen and its derivatives, EV charging stations, as well as grid infrastructure development,” Adani states.

By the close of FY32, the year India aims to achieve a $10 trillion economy, the company’s projections indicate that total infrastructure spending will surpass $2.5 trillion, he says.

Additionally, the billionaire says it is establishing facilities to manufacture electrolysers for producing green hydrogen, wind power turbines, and solar panels. Speaking at the event, Adani emphasised the trillion-dollar opportunities presented by energy transition and digital infrastructure, predicting a transformative impact on India's local and global scale.

The group aims to produce cost-effective green energy, particularly green electrons, which will serve various sectors mandated to meet sustainability standards.

He mentions that the group's investment over the next decade in the energy transition sector will exceed $75 billion, expanding their renewable energy capabilities significantly.

Anticipating the rising demand for green energy from AI data centres, Adani mentions their significant order book for data centres in India and ongoing discussions for additional gigawatt-scale green AI data centres, positioning them uniquely to meet these demands.

Adani highlights the construction of the world's largest single-site renewable energy park in Khavda, Gujarat, is set to generate 30 GW of power, thereby increasing their total renewable energy capacity to 50 GW by 2030.

“And to make this happen, we are already building the world’s largest single site renewable energy park in Khavda, in the district of Kutch,” Adani says.

Regarding digital infrastructure, Adani highlights the critical role of data centres, essential for powering various computational needs, especially in Artificial Intelligence (AI) technologies.

Adani also points out the intertwining of energy transition and digital transformation infrastructures, particularly in the technology sector's increasing demand for green energy. The group plans to expand its digital footprint across industrial clouds, cybersecurity solutions, super apps for consumer businesses, AI labs, and data centres to support the energy-intensive digital revolution, he says.