Adani to invest USD 100bn in green transition over 10 years

India’s Adani Group has committed to investing USD 100 billion (EUR 92.6bn) in green energy transition initiatives over 10 years to advance its goal of becoming net zero by 2050 or earlier for five of its portfolio companies.

The pledge was made in the half-yearly ESG compendium released by the Indian group on Tuesday.

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The designated investment amount will be appropriated by Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC and Ambuja Cements, which are already actively sourcing renewables, electrifying operations and adopting biofuels, as well as deploying waste heat recovery and energy storage technologies.

Billionaire Gautam Adani’s conglomerate highlighted in the statement the importance of last mile green hydrogen solutions for the net zero transition. The group is already working on innovative pilot projects in this field, including the development of hydrogen fuel cell electric truck for mining logistics and transportation.

(USD 1 = EUR 0.926)