Adani Group to invest $100 bn in a decade, focus on energy transition

Company in sight to become one of the least expensive producers of green electron and green hydrogen, says Gautam Adani

The Adani Group will invest $100 billion (Rs 8.1 trillion) in the next decade with a substantial amount going for energy transition, said group chairman Gautam Adani on Tuesday, announcing "game-changing" plans that the billionaire claimed could make India a net-energy exporter.

The group has earmarked 70 per cent of its new investments for energy transition space and infrastructure. "We are already the world’s largest solar player, and we intend to do far more. In this context, Adani New Industries is the manifestation of the bet we are making in the energy transition space. It is our commitment to invest $70 billion in an integrated Hydrogen-based value chain," Adani said at the Forbes Global CEO conference in Singapore.

"In addition to our existing 20 Gw renewables portfolio, the new business will be augmented by another 45 Gw of hybrid renewable power generation spread over 100,000 hectares — an area 1.4 times that of Singapore. This will lead to commercialization of three million metric tons of green hydrogen." This business will see Adani group building three giga factories for manufacturing solar modules, wind turbines, and hydrogen electrolysers in India.

“We are in the process of building a 10 Gw silicon-based photo-voltaic value-chain that will be backward-integrated from raw silicon to solar panels, a 10 Gw integrated wind-turbine manufacturing facility, and a 5 Gw Hydrogen electrolyser factory,” he said.

“Today, we can confidently state that we have a line of sight to first become one of the least expensive producers of the green electron and thereafter the least expensive producer of green hydrogen. It is an absolute game changer for India and opens up the unprecedented possibility that India could one day become a net energy exporter,” he said.

Adani said while it undertakes this energy transition, it is also making sure that the group's goals stay match national needs.

‘China will feel isolated’

Adani said China will feel increasingly isolated as rising nationalism, shift in supply chains and technology restrictions threaten the world's second-biggest economy.

This is because globalisation, of which China was seen as the foremost champion, is at an inflection point. “It will look very different from what we had come to accept in a largely unipolar world,” he said.

China’s Belt and Road initiative has run into resistance in many countries, the founder and chairman of Adani Group said at a conference in Singapore.

“I anticipate that China — seen as the foremost champion of globalization — will feel increasingly isolated. Increasing nationalism, supply chain risk mitigation, and technology restrictions will have an impact,” he said.

 (With inputs from PTI) 

The Rs 8.1-trillion plan

• Adani investment across ports, airports and electricity generation

• Highest investment to be made in renewable energy

• India to be $30 trillion economy by 2050

• Opportunity across all industries as the world looks outside China for manufacturing

• India to attract highest FDI in coming years