New Delhi: Billionaire Gautam Adani today said his company would invest between $50 billion and $70 bn in green energy business over the next decade. “over the next decade, the Adani portfolio companies in the energy and utility business will invest over $20 billion in renewable energy generation and the overall organic and inorganic investments across the entire green energy value chain will range between $50 billion and $70 billion,” Adani said. He was speaking to business leaders on the side-lines of the UK’s Global Investment Summit at the London Science Museum. The summit, organized by the UK Govt, featured Prime Minister Boris Johnson, members of the royal family, British MPs, technologists and global investors.
Adani said 70 per cent of the group’s planned capex until 2030 will be in sustainable technologies, including investments with potential partners for electrolyzer manufacturing, backward integrations for component manufacturing to secure the supply chain for the solar and wind generation businesses, and AI-based utility and industrial cloud platforms.”When combined with India’s cost and locational advantages, this will enable Adani to produce the world’s least expensive green electron and be on track to become the world’s largest renewable power portfolio by 2030,” the Chairman of the Ahmedabad-based conglomerate said.He said this will lay the foundation for Adani to become one of the largest green hydrogen producers in the world and, in turn, will make India the producer of the world’s cheapest hydrogen.”Adani Green Energy will triple its renewable power generation capacity over the next four years – a scale and speed unmatched by any company in the world. AGEL is also consolidating its position as the world’s largest solar power developer, having achieved its initial target of 25 GW four years ahead of schedule,” Adani said.Referring to the growing clamor for India to announce net zero targets for its economy, Adani said a net zero number unaligned with a nation’s development agenda may end up creating greater disequilibrium across the global sustainability initiatives.