Adani Group will invest about Rs 2.3 lakh crore through 2030 in India’s most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans.
Adani Green Energy Ltd, India’s largest renewable energy company, will invest about Rs 1.5 lakh crore in expanding capacity to generate electricity from solar energy and wind power at Khavda in Gujarat’s Kutch to 30 gigawatts from 2 GW currently and another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country, a top company official said.
Adani New Industries Ltd (ANIL), a unit in the group’s flagship Adani Enterprises Ltd, will invest close to Rs 30,000 crore in expanding solar cell and wind turbine manufacturing capacity at Mundra in Gujarat.
AGEL, which currently has an operating portfolio of 10,934 megawatts (10.93 GW), is targeting 45 GW of renewable energy capacity by 2030. 30 GW of this will come up at just one location at Khavda – the world’s largest renewable energy project.
“We have just now commissioned 2,000 MW (2 GW) of capacity at Khavda and plan to add 4 GW in the current fiscal (financial year ending March 2025) and 5 GW every year thereafter,” said Vneet S Jaain, Managing Director, AGEL.
To support these plans as well as meet requirements of other domestic renewable players and export market, ANIL plans to expand its cell and module manufacturing facility at Mundra to 10 GW by 2026-27 from current 4 GW, Jaain, who is also a director on the board of ANIL, said.
Crystalline silicon is turned into cells capable of converting sun rays into electric current and mounted on modules before being placed in high radiation areas such as Khavda. Electricity thus generated is wired to the transmission grid for onward movement to customers.
Besides solar manufacturing, ANIL is also doubling capacity to make windmills that generate electricity from wind, to 5 GW