In a landmark announcement, the Adani Group has revealed its monumental investment plan amounting to approximately Rs 2.3 lakh crore, slated to be executed by 2030. This visionary initiative underscores the conglomerate's unwavering commitment to bolstering India's renewable energy sector and expanding its solar and wind manufacturing capabilities. Despite weathering challenges, including a short-selling attack, the Adani Group remains steadfast in its pursuit of rapid growth and transformative impact.
Leading the charge is Adani Green Energy Ltd (AGEL), poised to channel investments of about Rs 1.5 lakh crore towards augmenting the capacity for solar energy and wind power generation. The epicenter of this expansion lies in Khavda, located in Gujarat's Kutch region, where AGEL intends to elevate its generation capacity from the current 2 gigawatts (GW) to an astounding 30 GW. Additionally, AGEL plans to inject Rs 50,000 crore into replicating similar projects across various regions in the country.
Simultaneously, Adani New Industries Ltd (ANIL), a pivotal unit within the Adani Enterprises Ltd umbrella, will spearhead investments nearing Rs 30,000 crore to fortify its manufacturing prowess in solar cells and wind turbines at Mundra, Gujarat. Mr. Vneet S Jaain, Managing Director of AGEL, outlined the ambitious roadmap, highlighting AGEL's strategic target of achieving 45 GW of renewable energy capacity by 2030. Central to this endeavor is the development of Khavda into the world's largest renewable energy project, encompassing 30 GW of capacity.
"We have inaugurated a 2 GW capacity at Khavda recently and aim to add an additional 4 GW in the ongoing fiscal year, followed by a consistent annual augmentation of 5 GW thereafter," affirmed Mr. Jain. Furthermore, ANIL is poised to scale up its solar cell and module manufacturing facility at Mundra to 10 GW by 2026-27, up from the current 4 GW capacity. This expansion aligns with the conglomerate's overarching objective of meeting domestic demands and catering to global export markets.
Mr. Jain underscored ANIL's multifaceted approach, emphasizing the augmentation of windmill manufacturing capacity to 5 GW within the next three-and-a-half years. The Adani Group's colossal investment plan, spanning diverse sectors from seaports to electricity generation and transmission, underscores a capital expenditure outlay of Rs 1.2 lakh crore for the fiscal year 2024-25.
Notably, AGEL's existing operational portfolio, comprising solar, wind, and hybrid capacities, already powers millions of homes and contributes significantly to reducing carbon emissions. This concerted effort positions AGEL as a key player in India's renewable energy landscape, with a substantial share in the nation's utility-scale solar installations.
Amidst challenges and external scrutiny, the Adani Group remains resolute, advancing its mission to drive sustainable growth and catalyze India's transition towards a greener future.
