India’s Adani Group plans to invest $100bn in energy transition projects, aiming to produce key components for green energy generation, the news agency Press Trust of India (PTI) has reported.
Speaking at the Catalyst for India's Future event, held in June 2024 by Crisil, Adani Group chairman Gautam Adani noted that trillion-dollar opportunities in energy transition and digital infrastructure will significantly transform India.
The conglomerate is set to establish facilities for manufacturing electrolysers, wind power turbines and solar panels. It also plans to establish solar parks.
Adani's goal is to create the "world's least expensive green electron," which will serve as a critical input for industries striving to meet sustainability goals.
He emphasised that India’s shift towards green energy is set to create millions of new jobs in sectors such as solar and wind energy, energy storage, hydrogen and its derivatives, electric vehicle-charging infrastructure and grid development.
He believes that the energy transition space will fundamentally change the global energy landscape forever.
Green hydrogen production, which involves extracting hydrogen from water using electrolysers powered by renewable energy, is considered a key solution to decarbonise both industry and transportation.
Adani explained that the infrastructure for energy transition and digital transformation are now intertwined, with the technology sector emerging as the largest consumer of green electrons.
Gautam Adani was quoted by PTI: "The next decade will see us invest more than $100bn 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.
"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, Gujarat. Just this single location will generate 30GW of power, thereby taking our total renewable energy capacity to 50GW by 2030.
“The global transition market was valued at approximately $3tn in 2023 and is expected to grow to nearly $6tn by 2030, and thereafter double every ten years 'til 2050.”
