Adani Group to invest $100 billion in the next decade for energy transition

Adani portfolio companies will be investing $100 billion over the next decade towards achieving energy transition, the group said in a media statement on Tuesday.

Of the planned $100 billion, 70 per cent is intended to be spent towards clean energy. Adani Group is building three giga factories with plans to develop 10 gigawatts (GW) solar panel, 10 GW wind turbine, and 5 GW hydrogen electrolyser. The group is also expanding its renewables portfolio to 45 GW.

The group has set a target to become net zero by 2050 or earlier for five of its portfolio companies — Adani Green Energy, Adani Energy Solutions, Adani Ports & Special Economic Zone (SEZ), ACC, and Ambuja Cements.

The company said Adani portfolio businesses have an active strategy to decarbonise, pledge to plant 100 million trees by 2030, and undertake innovative pilot projects, including the development of a hydrogen fuel cell electric truck.