Adani to invest $100 bn in green energy transition

Billionaire Gautam Adani’s group will invest USD 100 Billion in green energy transition over the next 10 years across its ports, power and cement operations as it aims to become a net zero emitter by 2050.

The conglomerate is expanding its renewable portfolio to 45 gigawatts as well as building three giga factories to manufacture solar panels, wind turbines and hydrogen electrolysers, it said in a statement.

The group has set a target to become net zero by 2050 or earlier for five of its portfolio companies — renewable energy firm Adani Green Energy Ltd, power transmission utility Adani Energy Solutions Ltd, ports firm Adani Ports & SEZ Ltd, and cement makers ACC and Ambuja Cements.

The portfolio businesses are actively sourcing renewables, electrifying operations and adopting biofuels, and deploying waste heat recovery and energy storage technologies.

The road map to net zero transition will require last mile green hydrogen solutions, Adani Group said, adding its businesses have started pilot projects such as development of hydrogen fuel cell

electric trucks as part of the switch.