"Adani Group Announces $75 Billion Investment to Expand AGEL's Renewable Energy Portfolio to 45 GW"

Recently, Gautam Adani, Chairman of the Adani Group, revealed ambitious plans to invest $75 billion in energy transition initiatives by 2030. This significant investment is geared towards realizing the group's vision of achieving a renewable energy capacity of 45 gigawatts (GW) by the end of the decade, as outlined in a statement released by Adani.

Expressing the group's commitment to large-scale renewables, the development of an indigenous fully integrated manufacturing ecosystem, and the pursuit of green hydrogen solutions, Gautam Adani emphasized the pivotal role played by Adani Green Energy Limited (AGEL) in India's journey toward decarbonization.

"At the Adani portfolio level, a total investment of $75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," stated Gautam Adani.

The investments will be channeled through AGEL, which has garnered recognition as the second-largest global solar photovoltaic (PV) developer, according to the latest annual global report from the US-based Mercom Capital Group.

AGEL's outstanding performance and notable contributions to the renewable energy landscape have earned it the prestigious second rank among the world's leading solar PV developers. The company currently boasts an operational renewable portfolio of 8.4 GW, making it the largest in India and spread across 12 states. This extensive portfolio has cumulatively offset over 41 million tonnes of CO2 emissions, reinforcing AGEL's commitment to sustainability.

The Adani Group's substantial investment signifies a robust commitment to advancing renewable energy initiatives, fostering innovation, and contributing significantly to India's transition toward a greener and more sustainable energy landscape.

BS