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Adani to Invest USD 100 Billion Over 10 years, Push for Green Energy

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Adani Group‘s Chairman, Mr. Gautam Adani has stated that Adani Group will be investing over USD 100 billion (about Rs. 8 lakh crore) over the course of next ten years. Mr. Adani was speaking at Forbes Global CEO Conference in Singapore on 27th September 2022.

Adani Bullish on Green Energy, 70% of Announced Investment to be in the Sector

A major chunk of this USD 100 billion investment will be in the Green Energy sector. Speaking on the matter, Mr. Adani said, “As a Group, we will invest over 100 billion dollars of capital in the next decade. We have earmarked 70% of this investment for the Energy Transition space. It is our commitment to invest 70 billion dollars in an integrated Hydrogen-based value chain. He further stated that Adani Group seeks to be a producer of cheap and affordable Green Hydrogen.

Solar Cell Manufacturing

Earlier in September, Adani Group had announced its plans to set up three giga factories in India. These giga factories will be a part of this USD 70 billion investment. Mr. Adani further said, We are in the process of building a 10 GW silicon-based photo-voltaic value-chain that will be backward-integrated from raw silicon to solar panels, a 10 GW integrated wind-turbine manufacturing facility, and a 5 GW Hydrogen electrolyser factory”.

Adani Group has plans to add 45 GW to its existing 20 GW Renewable Energy portfolio by 2030. This expansion will be done through setting up Hybrid Power generation, which will be spread over an area of 1,00,000 ha.

Adani Plans 1,000 MW Integrated Data Centres in the Next 10 Years

Data Centre

Apart from the Green Energy sector, Adani Group will also use this investment to establish a network of data centres. These data centres will be linked by means of both terrestrial as well as undersea cables.

Earlier in August 2022, AdaniConneX, a 50-50 joint venture between Adani Group and US-based Edge ConneX, stated that it would be building 1,000 MW data centres in the coming decade. Commenting on the company’s plans to establish these data centres, Sanjay Bhutani, AdaniConneX Senior Vice President and Head of Data Centre Business said, “We are building 1,000 megawatt data centres. Today, the industry stands at 550 MW. Building 1,000 megawatt data centre in the next one decade is something which is our business plan”.

Out of these 1,000 MW data centres, seven data centres with a total capacity of 450 MW will be developed in Mumbai, Chennai, Hyderabad, Bengaluru, Pune and Delhi. Post this, in the next three years, the remaining data centres with a cumulative capacity of 550 MW will be developed in tier-2 and tier-3 cities. Therefore, it can be deduced that the seven earlier mentioned data centres in will be likely built in the coming 7 years.

The company will also be developing super apps, which will provide its B2C business with a common digital platform.

Some Recent Major Investments by the Adani Group

In a press release dated 11th August 2022, Adani Group had announced an investment of Rs. 57,575 crore in the state of Odisha for setting up an Integrated Alumina Refinery of 4 MMTPA capacity, and a 30 MMTPA Iron Ore Project.

Adani Group recently concluded the USD 6.5 billion acquisition of Holcim’s assets in India, which comprised the latter’s stake in Ambuja Cements and ACC. This provides Adani Group with a cement manufacturing capacity of 67.5 MMTPA, second to only UltraTech Cement.