The Adani Group is has prepared an ambitious plan for energy production in India with a heavy focus on renewable energy. The Gautam Adani-led company on Sunday announced that it plans to invest around $60 billion by the year 2032 in power sector. The company will focus on generation and transmission/distribution of electricity.
In a presentation to investors in Mumbai, Adani Group said that it will be investing $21 billion by 2030 to scale up renewable energy capacity to 50 GW from 14.2 GW this year. Adani Green Energy Limited (AGEL) will drive the group’s initiatives in the renewable energy sector. With its sites like the mammoth Khavda hybrid park, AGEL is scaling capacity to reach 50 GW by 2030, the majority of which, around 80%, will be solar, with the remainder from wind.
Additionally, Adani Power will invest $22 billion by FY32 to expand its thermal power generation capacity to 41.9 GW from 17.6 GW. Adani Power is the largest private thermal power producer in India.
On the other hand, Adani Energy Solutions Ltd will invest $17 billion to build transmission and distribution capabilities in the country. The company plans to set up 30,000 km of transmission lines.
