Speaking at JP Morgan India Investor Summit, Adani Group chairman said the $20 bn investment will be in renewable energy generation, component manufacturing, transmission, and distribution
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest USD 20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron.
The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centers with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 percent of capital expenditure until 2025 in green technologies, he said.
Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission, and distribution.
Adani Group's "integrated value chain, our scale, and experience put us on the path to be the producer of the least expensive green electron anywhere in the world," he said.
The announcement came weeks after India's richest man Mukesh Ambani announced an investment of Rs 75,000 crore (USD 10 billion) in clean power and hydrogen fuel over three years.
Many have seen the June 24 announcement as the petrochemical czar's direct competition with the country's second-wealthiest man, Adani who has had a strong presence in the renewables space for many years.
This month, Ambani said hydrogen can be made from renewable energy at USD 1 per kilogram in a decade's time.
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