Adani To Compete With Ambani In The Field Of Renewable Energy

Adani to compete with Ambani in the field of renewable energy, announced an investment of Rs 1.5 lakh crore.

The Adani Group is now foraying into the renewable energy space to take on the Mukesh Ambani-controlled Reliance Industries Limited (RIL).

On Tuesday, Adani Group Chairman Gautam Adani announced an investment of $ 20 billion (about Rs 1.5 lakh crore) in the renewable energy sector over the next 10 years at an event.

He said that the group will make this investment in the production, transmission, and distribution of green energy as well as components manufacturing.

Recently, RIL chairman Mukesh Ambani had announced an investment of $10 billion (about Rs 75,000 crore) in the field of green energy and hydrogen over the next three years.

In JP Morgan’s program, Adani said that we are the world’s largest company in the field of solar energy in terms of installed production capacity, projects under construction.

The company has done this work in just two years. Adani Group has 4,920 MW of renewable energy projects on-going and 5,124 MW under-construction projects.

At the same time, various projects of 9,750 MW are in the commissioning stage, and work for 4,500 MW projects is going to be received soon.

Adani said that by the year 2025, 75 percent of his planned capital expenditure will go towards green technology.

The company’s renewable production capacity will increase three-fold in the next four years. The company is also aiming to be among the world’s largest producers of hydrogen energy.

The group will supply electricity to all its data centers through renewable energy by 2030.

According to Adani, the group will also invest in those areas related to infrastructure, which are not yet developed properly and whose contribution is less.

In the last eight years, the group has acquired 50 properties worth $12 billion, or about Rs 90,000 crore, he said.

India will have the world’s youngest middle class in two decades and will be among the top four countries in the world in terms of market capitalization in the next 10 years.

Adani said that countries that criticize a country like India for its slow progress in the field of environmental reforms, must remember that they have created a lot of pollution in the name of economic and industrial development.

These countries, giving advice for environmental improvement, used to burn more than 800 million tonnes of coal 100 years ago, which is more than India’s current coal production.