Adani Green To Funnel Around 2 Lakh Crore in Renewable Energy By CIOTechOutlook Team

Adani Green To Funnel Around 2 Lakh Crore in Renewable Energy

CIOTechOutlook Team | Monday, 08 April 2024, 02:40 IST

Adani Green, a renewable energy firm, may fund approximately 2 lakh crore by 2030 to add renewable energy power limits. The organization intends to take its all-out renewable energy portfolio to around 45 GW by 2030 from 10.9 GW. A significant part of the expansion will be at Khavda in Gujarat's Kutch region, where the limit will be extended to 30 GW from the current 2GW.

An organization official said the complete funding proposal of around â‚¹50,000 crores is for limits past Khavda, totaling around 6-7 GW. The organization's ongoing all-outstanding limit contains 7,393 MW of solar, 1,401 MW of wind and 2,140 MW of wind-solar hybrid. At the Khavda project, the world's biggest renewable energy park, the limit will go up to 6 GW toward the finish of this financial year, Adani Green managing director Vneet Jaain added.

"There are power purchase agreements for power from Khavda for Adani Green and there is a huge captive requirement of renewable power by group companies which Khavda can provide," he added. Adani Green has a market capitalisation of more than â‚¹ 3 lakh crore.

The subsidiary of group flagship Adani Enterprises Ltd, Adani New Industries Ltd, which manufactures solar and wind energy gear, intends to spend more than â‚¹30,000 crore by 2030 to grow the limit. The organization is looking to arrive at 5 GW of wind turbine producing limit by FY27 from 1.5 GW right now, said Jaain, who is also a director of this unit. He also said that the organization intends to add a 10 GW limit in the next three and a half years on the manufacturing of solar-based modules.