Adani group will invest $20 billion in clean energy generation component manufacturing transmission and distribution over 10 years Chairman Gautam Adani said. The group is the worlds largest power producer if generating under construction and contracted projects are included over 75% of Adani’s capital expenditure until 2025 is in green technology.
Adani’s investment plans come close on heels of similar green energy initiatives of rival Ambani who is setting up an integrated renewables energy ecosystem in Gujarat.
The mega investments in green energy come amid pressure from governments and investors on companies reliant on fossil fuels to cut their carbon footprint to fight climate change.
Adani also recently announced its entry into petro- chemicals through Adani Petro- chemicals Ltd. The company will set up refineries, petrochemicals complexes and speciality chemicals units in Gujarat a direct challenge to Reliance Indutries.
The group also plans to triple its renewable power generation capacity over the next four years.