Adani energy business joins top-20 global club on massive renewables thrust

Total valuation now touches $31 billion (Rs 2.32 trillion); Nextera Energy of the US and Enel of Italy top the global list with $151 billion and $103 billion, respectively

Thanks to a massive thrust in the renewable energy sector over the past two years, Adani Group’s energy business has joined the top-20 global energy companies with its total valuation now touching $31 billion (Rs 2.32 trillion) as compared to $6.5 billion two years ago. Nextera Energy of the US, and Enel of Italy, top the global list with $151 billion and $103 billion respectively, as per Bloomberg data.

The group is targeting to become world’s largest RE company by 2030 and company officials said the renewable sector will witness addition of 300-400 Gw in this decade which opens tremendous opportunity for large developers like AGEL. The group’s energy vertical includes Adani Green Energy Ltd, Adani Total Gas, Adani Transmission and Adani Power Ltd. Several global investors including Total of France and QIA of GCC have already invested in the group’s energy companies. 

Company officials said the transmission business is expected attract over $50 billion (Rs 4 trillion) of investments over the next five years. On the distribution side, the government is likely invest another $40 billion (Rs 3 trillion) to revive the ailing utilities. The ongoing energy transition will also unfold various avenues for innovative projects combining with renewables, thermal, battery storage & hydrogen, officials said.

In order to cash in on the opportunities, the group has built strategic & applied research teams to continue staying ahead of times and continue its exploration of future technologies and endorse the same for early investments. 

"The coverage of the entire value chain from “molecules” to “wall-socket consumption” augurs well for a sustainable model for Adani energy enterprises and also focused on capacity & human resources, while delivering on growth execution and operational excellence," said an official.

The group introduced the largest footprint with supercritical technology at its 4,600-Mw plant at Mundra, and an HVDC link of 1,000 km between Western Gujarat and NCR. It is now building an ultra supercritical plant in Jharkhand with an 800-Mw footprint, apart from tracker-based solar PV plants. The group is also pursuing 10,000 MW plus hybrid plant in Gujarat, India.