(Ahmedabad / India) – India's Adani Group plans to invest $70 billion over the next decade to become the world's largest renewable energy company and produce the world's cheapest hydrogen. Adani Green Energy Ltd (AGEL) aims to install 2030 gigawatts of renewable energy capacity by 45 and build hydrogen production capacity of two gigawatts per year at a cost of $20 billion over the next ten years.
Adani Transmission Ltd (ATL), India's largest private power transmission and distribution company, aims to increase the share of renewable energy in the electricity mix from the current three percent to 2023 percent by 30 and to 2030 percent by 70. Adani founder and managing director Gautam Adani explained this at the COP26 global climate conference in Glasgow and reiterated the plan a few days later in his keynote speech at the Bloomberg India Economic Forum.
The company is working to make renewable energy a viable and affordable alternative to fossil fuels. “We expect to be the world's largest renewable energy company by 2030.” From Adani's perspective, it is “very well positioned to produce the world's cheapest hydrogen, which can be used as an energy source and as a raw material for various industries in which we want to take action, should serve”. He did not give any details about the hydrogen plans.
At COP26 in Glasgow, Prime Minister Narendra Modi announced that India plans to achieve net-zero emissions by 2070. By 2030, the share of renewable energies in the country's energy mix should increase to 50 percent and the installed capacity of non-fossil energies should be expanded to 500 gigawatts. The goal so far was 450 gigawatts.
The Adani Group is a multinational conglomerate headquartered in Ahmedabad, India, founded in 1988 as a commodities trading company by Gautam Adani. The business areas include raw materials, logistics, the agricultural sector and energy supply
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https://www.adani.com/blogs/the-future-of-infrastructure-is-green
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Adani wants to invest $70 billion in renewable energy and green hydrogen. © Adani Group
