Page 24 - Gautam Adani

Group to invest $75 bn to scale up AGEL's RE portfolio to 45 GW: Adani

Adani Group has plans to invest USD 75 billion on energy transition initiatives by 2030, its chairman Gautam Adani said on Wednesday. The investments will boost the group's vision to have 45 gigawatt of renewable energy capacity by 2030, Adani said in a statement. "We are committed to largescale renewables, developing an indigenous fully integrated manufacturing ecosystem and green hydrogen solutions. At the Adani portfolio level, a total investment of USD 75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," the group chairman said. The investments will be executed through Adani Green Energy Limited (AGEL). AGEL has emerged as the second-largest global solar PV developer in the US-based Mercom Capital Group's latest annual global report. "The company's outstanding performance and contribution to the renewable energy ..

Gautam Adani's next milestone is plan for $1.25 billion of green arm debt

We are coming close to timelines where we would like to see a concrete and definitive plan" Abhishek Dangra, a Singapore-based infrastructure analyst at S&P Global said

Gautam Adani pitches for balanced approach towards energy at COP28

As world leaders dwell on the language of the final outcome of climate talks, billionaire Gautam Adani on Tuesday made a pitch for adopting a balanced approach that takes into account energy costs and availability while continuing to accelerate on green ambitions. At the 28th UN Climate Change Conference in Dubai, called COP28, 118 governments pledged to triple the world's renewable energy capacity by 2030 but have not been able to arrive at the language to be used in the outcome document for cutting the share of fossil fuels in the world's energy production. "In the midst of initial encouraging signs from COP 28, it is relevant to remember that while in sum total (given our 1.4 billion population) we are the world's third largest primary energy consumer, our per capita electricity consumption @ 1250 kWh is still less than one-third of the global average and less than one-seventh of the developed world," Adani said in a post on X. India, he said, is also the only large nation ahead

Adani Green Ltd seals its biggest ever project financing of $1.36 billion

The green loan facility will help enable the development of AGEL, the world's largest renewable energy park, at Khavda in Gujarat

Gautam Adani's wealth swells by $10 billion on relief stock rally

"The general view is that the worst is behind and now we will not hear about Hindenburg," said a portfolio manager said

Adani Group plans $84 billion spending after Hindenburg market rout

During an annual address to shareholders in July, Adani announced grand expansion targets across his ports, energy and infrastructure businesses

Stock rally puts Gautam Adani back in world's 20 richest billionaires list

The group stocks surged since Monday after the Supreme Court reserved its judgement on the charges made by the Hindenburg report

Gautam Adani back in world's top 20 richest billionaires after stock rally

Adani is now the 19th richest person in the world, with a net worth of $66.7 billion

PM Modi diverts attention, Adani dupes people: Rahul Gandhi in Rajasthan

Rahul Gandhi calls PM Modi "Panauti Modi", a term associated with bringing bad luck, with reference to the Prime Minister's presence at India vs Australia ICC World Cup final

India a $4 trillion economy? Adani to Fadnavis hail, but no official word

Billionaire Gautam Adani to two Union Ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis among others on Sunday hailed India crossing USD 4 trillion mark though there was no official confirmation if the country has achieved the landmark. The finance ministry and the National Statistical Office did not immediately comment on the viral social media post on India's GDP crossing USD 4 trillion. Highly placed sources said that the viral news was incorrect and India was still shy of that landmark. An unverified screengrab from the live tracking GDP feed for all countries based on International Monetary Fund data has been widely shared on social media, including by many including senior BJP leaders. It is very difficult to have live tracking of GDP numbers of all countries as numbers of various sectors of the economy are available with a lag. "Congratulations, India. Another two years to go before India becomes the 3rd largest nation in terms of Global GDP by overtaking Ja

With US funding in pocket, Adani plans expansion of overseas port empire

The announcement marked a welcome reprieve for India's Adani Group following a damaging short-seller attack and a number of corporate fraud allegations leveled against it this year

Adani Green aims to achieve operational capacity of 11 GW in FY24: CEO

Adani Green Energy Limited (AGEL) has a planned capex of Rs 14,000 crore and aims to achieve operational capacity of 11 GW in FY24, its CEO Amit Singh said. The company has an operating renewable energy (RE) portfolio of 8.4 GW across solar, wind and hybrid capacity, the company official said in an investor presentation. "With plans to deliver 2.8-3 GW capacity in FY24, the company's operating portfolio will increase to 11 GW. In FY24, the company has indicated a capex of Rs 14,000 crore," Singh said. A large part of the capacity addition will come in Khavda in Gujarat where the company has deployed a workforce of more than 5,000 people. The company plans is to add 5 GW of RE portfolio every year from FY25 onwards, he added. "We have the largest operating renewable portfolio in India. We are ramping up our execution capabilities as we prepare for our next phase of growth. We are working extensively on our next milestone of developing the largest RE cluster in the world in Khavda

Adani group said to be in talks to exit FMCG joint venture with Wilmar

This comes at a time when Adani Wilmar Ltd has been posting losses for two consecutive quarters

Adani buys remaining 51% stake in BQ-publisher Quintillion Business Media

Billionaire Gautam Adani's group has acquired the remaining 51 per cent stake in Quintillion Business Media Pvt Ltd to take full control of the Raghav Bahl-curated digital business news platform for an undisclosed amount. Adani Enterprises Ltd, the ports-to-energy conglomerate's flagship firm, in a stock exchange filing, said its subsidiary AMG Media Networks Ltd "has executed a share purchase agreement for the acquisition of remaining 51 per cent stake in QBML", the firm which operates the business and financial news digital media platform BQ Prime. It, however, did not disclose the financial details of the transaction. Quintillion was Adani's first bet in the Indian news industry before taking about 65 per cent stake in broadcaster NDTV in December last year. AMG Media had previously bought a 49 per cent stake in Quintillion Business Media Ltd (QBML) for Rs 47.84 crore. BQ Prime was earlier known as Bloomberg Quint, a former joint venture between US-based financial news agency .

Adani Enterprises Q2 result: Net profit falls over 50% to Rs 228 crore

Adani Enterprises Q2FY24 results: The company's revenue from operations was down 41 per cent to Rs 22,517.33 crore

Adani has been given Indian ports, airports by PM Modi, says Rahul Gandhi

Congress leader Rahul Gandhi on Tuesday said that the moment we talk about Adani, intelligence agencies such as the ED and the CBI start approaching us

Govt indulging in distraction politics on Adani issue: Rahul on Apple alert

Congress leader Rahul Gandhi on Tuesday claimed that people in his office, several party and other opposition leaders have been sent a warning by Apple of state-sponsored attackers targeting their phone, and alleged that as soon as the Adani issue is touched, probe agencies and snooping are deployed. He also alleged that the government was indulging in "distraction politics" on the Adani issue. During a press conference, Gandhi showed a copy of the warning e-mail received by several opposition leaders from Apple phone manufacturer about "state-sponsored attackers trying to compromise" their phone. He said party leaders such as K C Venugopal, Pawan Khera, Supriya Shrinate and several other opposition leaders have got the Apple warning. "We are not scared. You can do as much (phone) tapping as you want, I don't care. If you want to take my phone, I will give it to you..," he said. "The hierarchy in the country is No. 1 Adani, no. 2 Prime Minister Narendra Modi and no. 3 Amit Shah,"

India's copper industry has a new entrant, incumbents not worried

For 2022-23 (FY23), India's domestic copper production was estimated at half a million tonnes

Chhattisgarh polls: Farmers' support will help win 75 seats, says CM Baghel

Chhattisgarh chief minister Bhupesh Baghel said that his government implemented several schemes for the welfare and support of farmers, and this will help the Congress win 75-plus seats

Sebi should stand firm, finish its Adani probe in timely manner: Cong

The Congress on Thursday urged the SEBI to stand firm and finish its investigation into the Adani matter in a timely manner, even as it reiterated that only a JPC probe can investigate the full scope of the issue. In a post on X, Congress general secretary Jairam Ramesh cited a media report which claimed that the Securities and Exchange Board of India (SEBI) has asked the Organized Crime and Corruption Reporting Project (OCCRP) to give it access to key documents about the allegations of stock manipulation and accounting fraud against the Adani Group. "Recently, the Organised Crime & Corruption Reporting Project (OCCRP) found clinching evidence that Adani associates were controlling opaque shell companies in overseas tax havens that had amassed huge stakes in Adani Group companies. All this was done in blatant violation of SEBI regulations," Ramesh said. Major global papers like the Financial Times and the Guardian covered the story in detail, he pointed out. "The Adani Group and ..