Gautam Adani group plans USD 20 billion green energy investment
Gautam Adani group plans USD 20 billion green energy investment
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India’s leading multinational conglomerate, Adani group plans to invest USD 20 billion in the renewable energy sector, including component manufacturing, transmission and distribution, over the next 10 years, Gautam Adani, the group's chairman, said at JP Morgan summit.

Three-fourth of the group's capital expenditure would be in the green technology, he said. Currently, the Adani group has renewable power generation capacity of 19.3 GWs. The group will also focus on investing in the infrastructure sector and plans to incubate new business within Adani Enterprises and later list them as separate companies. "Our real phase of accelerated growth is just beginning," he said, pointing out that the group had acquired over 50 assets for USD12 billion in last eight years. He stressed that their aim was to develop deep operational expertise and grow aggressively in each of their business, both organically and inorganically.

 

The group will operationalize Navi Mumbai airport by 2024, he said. There is plan to build a super application to combine all the offerings of the group. Upcoming new businesses will include all digital-related ventures that now span data centres, industrial clouds and the Adani Digital Labs, he said. At 1331 IST, the shares of Adani Enterprises were trading 1.5 percent higher at 1,438.75 rupees and those of Adani Green Energy were trading 1.2 percent lower at 1,117.25 rupees on the NSE. Adani Group is well on track to be the worlds largest renewable power generating company by 2030, Adani, Chairman, Adani Group said.

 

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