Adhani aims 40 GW of clean energy by 2030; to invest Rs 2 L Cr

Ahmedabad: Multinational conglomerate Adani Group intends to invest about Rs 2 lakh crore to build 40 gigawatts of renewable energy generation capacity by 2030. The company targets net zero emissions across its businesses by 2050, PTI reported.

Adani Grup currently has more than 10 GW of capacity to generate electricity from renewable sources like sunlight and wind energy and is looking to add 6-7 GW every year to reach 50 GW by 2030.

"Considering the ballpark number of Rs 5 crore per megawatt, the investment could be in the range of Rs 2 lakh crore by 2030," Adani Green Energy Ltd Executive Director Sagar Adani said.

Its CEO Amit Singh said the company would also build a 5 GW pump storage capacity to peak power demand during the night when sunlight is not available, and wind intensity is not strong enough to turn wind turbines to produce electricity. The carbon credits renewable capacity generates, together with a few other measures, will help turn the group net zero by 2050.

AGEL added 2.8 GW capacity in the 2023-2024 (April 2023 to March 2024) fiscal, which was 15 per cent of India's total renewable energy capacity addition, Singh said.

"This year, our target is 6 GW," he said.

Going forward, that kind of capacity addition or higher is likely every year, Adani said, adding that 80 per cent of the 50 GW capacity will be solar and the rest wind.

The conglomerate is building factories to make wafers used in solar panels to generate electricity and wind turbines.

Singh said the group is now looking at making 3 MW wind turbines for areas with lower wind speeds.