India's Adani Group targets USD-100bn investment in energy transition

India’s Adani Group intends to invest more than USD 100 billion (EUR 93.1bn) in the energy transition field and the expansion of its integrated renewable energy value chain over the next decade, the chairman of the group, Gautam Adani, stated on Wednesday, as quoted by local media.

Adani said this at an event organised by Crisil, noted that his company is already constructing the world’s largest single-site renewable energy park in the state of Gujarat. This 30-GW project will bring Adani’s total renewables capacity to 50 GW by 2030, according to him.

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When it comes to its existing renewables value chain, the group is currently engaged in the manufacturing of “every major component required for green energy generation,” including solar modules, wind turbines and electrolysers for green hydrogen production.

The chairman further said that in order for India to achieve its 500-GW renewables target by 2030, the country will need to invest over USD 150 billion a year.

(USD 1.0 = EUR 0.931)