NEW DELHI: Industrialist Gautam Adani has a plan to turn his group into the world’s largest renewable energy player by 2030 and its largest solar firm by 2025. In a detailed post on social media platform Linkedin, Adani wrote that the group had “quickly moved into a position to lead clean energy transformation, not just in India but on the global stage”.
“In 2019 we were ranked as the 6th largest solar player globally and as a part of this journey, we are well within reach to be India’s largest renewable energy company by 2020 and one of the top three global solar energy companies by 2021. Our existing portfolio of renewable power generating assets stands today at over 2.5 GW.
This is expected to more than double by 2020, with the implementation of 2.9 GW under construction capacity and further record three-fold growth touching 18 GW by 2025,” he wrote.
The group is committing investments of more than 70 per cent of its capital expenditure in the energy vertical for clean energy and energy-efficient systems, Adani noted.
“Another key project that has begun taking shape as part of this journey, is the expansion of our 1.3 GW state-of-the-art solar cell and module manufacturing plant in Mundra which will turn into a 3.5 GW manufacturing facility. We are also in discussions on ventures to enable the world’s only 100 per cent green energy-based chemical manufacturing and data center facilities.,” he pointed out.
The $15 billion Adani Group has interests in energy, agri-business, real estate and defence, among other sector, and owns a large portfolio of not just coal-fired power plants but also coal mines in India and Australia.