REInvest 2024: Adani commits ₹4.05L crore to renewable energy projects
The Adani Group has announced a substantial investment of ₹4.05 lakh crore in renewable energy projects, at the 4th Global Renewable Energy Investors Meet & Expo (REInvest) 2024. This financial commitment will be channeled into various sectors including solar, wind, and green hydrogen initiatives. The pledge was made to the Ministry of New & Renewable Energy by two firms within the group: Adani Green Energy Ltd (AGEL) and Adani New Industries Ltd (ANIL).
AGEL aims to boost renewable energy capacity by 2030
AGEL, India's leading renewable energy company, has set an ambitious target to increase its renewable energy capacity to 50GW by 2030. This is a significant leap from its current operational capacity of 11.2GW. The goal aligns with the company's commitment toward sustainable and clean energy solutions, as part of the broader investment pledge made at REInvest 2024.
ANIL's plans for solar and wind manufacturing plants
ANIL has outlined plans to establish a 10GW solar manufacturing plant and a 5GW wind manufacturing facility. The company also intends to produce green hydrogen at a rate of 10GW, which includes green ammonia production of 2.8 MMTPA and green hydrogen output of 0.5 MMTPA. Additionally, ANIL is set to venture into electrolyser manufacturing with a capacity target of 5GW.
Adani Group's investment to generate over 70,000 jobs
Adani Group's substantial investment of ₹4.05 lakh crore in renewable energy projects, is projected to create employment opportunities for approximately 71,100 individuals. This job creation potential underscores the group's commitment not only to sustainable energy solutions but also to economic growth and development.
