Adani plans to spend $20b on renewables in next 10 yrs

sxcoal.com General,  International 2021-09-22 11:50:04

India's Adani Group Chairman Gautam Adani said Adani will invest $20 billion in the next 10 years to develop renewable energy, and plans to achieve net zero emissions from its port operations by 2025.


The group will use the $20 billion to develop renewable energy generation, parts manufacturing, transmission and distribution businesses, Adani said at the JPMorgan India Investor Summit.


It came after a few months ago when Indian tycoon Mukesh Ambani had announced a $10 billion investment in green energy development over the next three years.


India is the world's second most populous country. Prime Minister Narendra Modi has proposed an ambitious clean energy plan that aims to more than triple India's installed clean energy capacity to 450,000 megawatts by 2030.


"It also opens up new avenues for the company's future energy development, making it one of the world's largest clean energy producers." Adani said, as quoted by Reuters.


He said the company's share of renewable energy generation in all its power operations will increase to 63% by 2025 from the current 21%, while more than 75% of the company's planned spending will be on the development of clean technologies.


"At that time, Adani will be the first Indian company to use renewable energy to power all of its data centers in India." Adani said.


Adani Enterprises, the flagship company of the Adani Group, is India's largest coal trader. The company has been criticized by climate activists in recent years for moving forward with the Carmichael coal project in Australia, one of the world's largest new coal projects.


(Writing by Alex Guo  Editing by Harry Huo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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