The Adani Group will invest $100 billion (about Rs 8,14,200 crore) over the next decade, mainly in the new energy and digital space, which includes data centres, chairman Gautam Adani said on Tuesday, as the group continues its India growth story. He bets big.
Adani, the world’s second-richest man, said 70 percent of this investment would be in the energy transition sector, as he continued to reveal the group’s new energy plans little by little.
The Port-to-Energy group will add 45 gigawatts of hybrid renewable energy generation capacity and build 3 giga factories to make solar panels, wind turbines and hydrogen electrolysers.
“As a group, we will be investing more than $100 billion in capital over the next decade. We have earmarked 70 percent of this investment for the energy transition sector,” Adani Group Founder and President Adani said at the Forbes Global CEOs Conference. ” in Singapore.
Beginning with a modest commodity business in 1988, the 60-year-old tycoon earned $143 billion (approximately Rs.11,64,000 crore), leaving behind Amazon’s Jeff Bezos, French businessman Bernard Arnault and American businessman Bill Gates.
With interests spanning sea ports, airports, green energy, cement and data centres, the group’s listed companies have a combined market capitalization of $260 billion (approximately Rs 21,16,300 crore).
The group is already the largest solar player in the world.
“In addition to our existing 20 GW renewable portfolio, the new business will be fueled by 45 GW of hybrid renewable power generation, spread over 100,000 hectares of land – 1.4 times the area of Singapore. This will lead to the commercialization of 3 million metric tons of green hydrogen, ” They said.
It will also build 3 GW factories – for a 10 GW silicon-based photovoltaic value-chain that will be backward-integrated from raw silicon to solar panels, a 10GW integrated wind-turbine manufacturing facility and a 5 GW hydrogen electrolyser factory.
“Today, we can confidently say that we have vision first – one of the least expensive producers of green electrons – and then – the least expensive producers of green hydrogen,” he said.
The digital space, he said, seeks to benefit from the energy transition imminent.
“The Indian data center market is witnessing explosive growth. The sector consumes more energy than any other industry in the world and therefore our move to build green data centers is a game-changing difference,” he added.
The group plans to interconnect data centers and build user-based super-apps through a series of terrestrial and globally connected undersea cables pulled at its ports, which will connect Adani’s millions of B2C customers to a common digital platform. But will bring
He said, “We have just completed the construction of the world’s largest sustainability cloud, which already has over a hundred of our solar and wind sites running – all out of a massive command and control center that will soon become a global Will be augmented by AI Lab.”
These new businesses will add to the growing Adani empire which already operates the largest airports and sea ports in India. It is the country’s highest valued FMCG company, the second largest cement producer and the largest integrated energy company.
“What I would like to say is – India is full of incredible opportunities. The story of real India’s growth is just beginning.
“This is the best window for companies to embrace the incredible multi-decade tailwind of India’s economic revival and the world’s largest and youngest democracy. The next three decades will be the most pivotal years for India’s impact on the world. ” He added.
Commenting on China, Adani said that once a champion of globalization, that country is facing challenges.
“I hope that China – seen as the leading champion of globalization – will feel increasingly isolated. Rising nationalism, supply chain risk mitigation and technology restrictions will have an impact,” Adani said.
