Form of words:
Mumbai: The Adani Group, a port-to-power conglomerate founded by billionaire Gautam Adani, is estimated to have invested $50 billion to $70 billion in its green energy value chain as it aims to become the world’s top renewable energy producer by 2030.
This will include a new $20 billion over the next decade for sectors such as electrolyzer manufacturing, a backward integration plan to secure supply chains for solar and wind generation businesses, and Adani, Asia’s second-largest AI-based industrial cloud platform. rich man, said in a virtual summit on Monday.
“We are tripling our solar power generation capacity in the next four years. This is currently a growth rate unmatched by any other company anywhere on the planet,” Adani said. “Our renewable portfolio has reached an initial target of 25 GW four years ahead of schedule.”
India aims to build 450 gigawatts of renewable energy capacity by 2030 and is home to the country’s top billionaires, including Adani and Asia’s richest man Mukesh Ambani. Promise green investment. Ambani wants to hit a green hydrogen target of $1 per kilogram by the end of this decade, a price that could threaten fossil fuels.
Adani said he is confident that his group’s integrated value chain, scale and experience set it on track to become the least expensive “green electron” manufacturer anywhere in the world.
“This benefit opens up many new avenues for us including establishing us as one of the largest green hydrogen producers in the world, opening up additional possibilities for many other industrial businesses to be the partner of choice,” he said. .
Coal, the dirtiest fossil fuel, helps produce about 70% of India’s electricity, although this share is decreasing with the entry of more clean energy into the grid. Adani’s statement comes at a time when India’s coal supply is under the worst pressure in nearly four years. power crisis It is threatening to halt the world’s fastest-expanding major economy. bloomberg
Read also: Adani Group signs deal to develop Western Container Terminal at Colombo Port
subscribe our channel youtube And Wire
Why is the news media in crisis and how can you fix it?
India needs free, unbiased, non-hyphenated and questionable journalism even more as it is facing many crises.
But the news media itself is in trouble. There have been brutal layoffs and pay-cuts. The best of journalism are shrinking, yielding to raw prime-time spectacle.
ThePrint has the best young journalists, columnists and editors to work for it. Smart and thinking people like you will have to pay a price to maintain this quality of journalism. Whether you live in India or abroad, you can Here.