New Delhi: Adani Group will invest more than US $ 100 billion in energy transition projects and manufacturing capacity. Group Chairman Gautam Adani gave this information on Wednesday. The group aims to manufacture all the key components required for green energy production.
Apart from building solar parks and wind farms to produce electricity from sunlight, the group is setting up electrolyser manufacturing facilities to produce green hydrogen, wind power turbines and solar panels. Green hydrogen is made by splitting hydrogen from water with the help of an electrolyser powered by clean energy. It is being seen as a potential solution to carbon-free industry as well as the transport sector.
Addressing a programme on ‘Infrastructure – Catalyst for India’s Future’ organised by Crisil, Adani said energy transition and digital infrastructure are billion-dollar opportunities that will transform India locally and globally.
He said, “Over the next decade, we will invest over $100 billion in the energy transition and further expand our integrated renewable energy value chain. Our value chain already includes manufacturing of every major component.
The coal-to-port conglomerate wants to produce the “world’s least expensive green electron” that will serve as a “feedstock” for multiple sectors. “And to do this, we are already building the world’s largest single-site renewable energy park at Khavda in Kutch district (in Gujarat). This single location alone will generate 30 gigawatts of power, taking our total renewable energy capacity to 50 gigawatts by 2030,” Adani said.
Adani said the energy transition sector will fundamentally change the global energy landscape forever. He said the global energy transition market was worth around $3 trillion in 2023, and is projected to reach $6 trillion by 2030. Thereafter, it will double every 10 years until 2050.