New Delhi: Adani group chairman Gautam Adani on Wednesday said that the company would invest around Rs 8.34 lakh crore ($100 billion) in energy transition projects and manufacturing capability to produce every major component required for green energy generation. Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolyzers for making green hydrogen, wind power turbines and solar panels.
Speaking at the Crisil event, Adani said that energy transition and digital infrastructure are trillion-dollar opportunities, which will transform India both at a local and at a global scale. “The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation,” he said.
“And to make this happen, we are already building the world’s largest single-site renewable energy park in Khavda, in the district of Kutch (in Gujarat). Just this single location will generate 30 GW of power, thereby taking our total renewable energy capacity to 50 GW by 2030,” the grop chairman added.
Adani further said that the energy transition space would fundamentally change the global energy landscape forever. “The global transition market was valued at approximately $3 trillion in 2023 and is expected to grow to nearly $6 trillion by 2030, and thereafter double every 10 years till 2050. As many of you know, in the case of India, our country aims to install 500 gigawatts of renewable energy capacity by 2030. This ambitious target will require annual investments of over $150 billion dollars,” he said.
The transition to green energy in India, he added, is expected to generate millions of new jobs in sectors such as solar and wind, energy storage, hydrogen and its derivatives, EV charging stations, as well as grid infrastructure development. On digital infrastructure, he further said that data is indeed the new oil and at the heart of all the action is the Data Centre - the critical infrastructure needed to power all forms of computational needs, especially AI workloads for machine learning algorithms, natural language processing, computer vision, and deep learning.
“All of this is dependent on the ability to process data at an unprecedented speed and scale which are the precise capabilities that data centres provide. However, this will need massive amounts of energy, making the data centre business the largest energy consuming industry in the world. This makes the energy transition even more complex and is raising electricity prices, thereby adding to the already high prices because of the combined impact of climate change and demand growth,” Adani added.
