Adani Group commits $100 billion to green energy transition over next decade
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Adani Group has unveiled its extensive plan to invest $100 billion in green energy over the next ten years, marking a significant move towards a sustainable future.
In its recently released half-yearly Environmental, Social, and Governance (ESG) compendium, the conglomerate highlighted remarkable advancements in its decarbonisation journey while expressing a firm commitment to supporting the global transition towards net-zero emissions.
With a bold vision, the Adani Group aspires to achieve net-zero emissions by 2050, or even earlier, for five prominent portfolio companies - Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements. This ambitious initiative aligns with the conglomerate's stature as India's largest integrated infrastructure developer.
The conglomerate's portfolio businesses have initiated an active strategy to decarbonise, emphasising their commitment to environmental stewardship. The pledge to plant 100 million trees by 2030 and the development of innovative pilot projects, including a hydrogen fuel cell electric truck, signify their proactive approach to sustainable practices.
Adani Group's strategic investment also encompasses the creation of one of the world's most ambitious green hydrogen ecosystems, supported by a fully integrated value chain on Gujarat's west coast. Leveraging their extensive experience in large-scale renewables and integrated manufacturing, the group aims to streamline the adoption of green hydrogen, a crucial element in achieving net-zero emissions.
Notable advancements have been made across various sectors within the Adani portfolio, highlighting their commitment to ESG parameters. Adani Electricity Mumbai, a subsidiary of Adani Energy Solutions, increased its renewable energy share in Mumbai's energy mix to an impressive 38.3%, positioning the city as a leading procurer of renewable energy among megacities.
Adani Green Energy, rated the highest utility company globally by Sustainalytics, achieved significant milestones by achieving zero waste to landfill for operational sites and turning net water positive at sites generating over 200 MW of renewable power.
Adani Ports, owning 15 ports and a logistics business, has made substantial strides toward achieving net zero by 2040, with remarkable reductions in energy intensity, energy emissions, and water consumption intensity.
Adani Enterprises, committed to sustainable energy, is ambitiously building three giga-factories for solar panels, wind turbines, and hydrogen electrolysers. Noteworthy initiatives include commencing production of India's largest 5.2 MW wind turbine and proactive experimentation with green hydrogen-based decarbonisation solutions.
Adani Power, in collaboration with IHI Corporation and Kowa Company, is exploring ammonia co-firing technology at the Adani Power Mundra plant, aiming to decarbonise coal-fired plants across India. Furthermore, Adani Enterprises' partnership with Ashok Leyland and Ballard Power aims to develop Asia's first hydrogen fuel cell electric truck for mining logistics and transportation, set for launch in 2023.
