#TrendingNow: Energy Transition-Focussed Adani Group to Invest $100 Billion in the Next Decade
India’s ports-to-energy conglomerate Adani Group plans to invest more than $100 billion in the next decade, Chairman Gautam Adani, the world’s second richest person, told a Forbes Global CEO Conference in Singapore, as per media reports Tuesday.
“As a group, we will invest over $100 billion of capital in the next decade,” he said, adding, “We have earmarked 70% of this investment for the energy transition space. We are already the world’s largest solar player, and we intend to do far more.”
“Adani also claimed that India could one day become a net energy exporter, thanks to green hydrogen,” The Economic Times reported Tuesday.
Adani Group will also raise its renewable portfolio by another 45 GW of hybrid renewable power generation, Mint reported.
“The primary areas that will define the Adani Group’s strategic direction – both within India and then beyond India’s borders – are Energy Transition followed by Digital Transformation,” the Mint report quoted Gautam Adani, adding, “Our ambitions in the Digital Transformation space seek to benefit from the Energy Transition adjacency”.
“The Indian data centre market is witnessing explosive growth. This sector consumes more energy than any other industry in the world and therefore our move to build green data centres is a game-changing differentiator,” the ET report quoted Gautam Adani, adding,
“The group plans to interconnect data centres through a series of terrestrial and globally linked undersea cables drawn at its ports and build consumer-based super-apps that will bring hundreds of millions of Adani’s B2C consumers on one common digital platform.”
“Owing to multiple acquisitions and diversification, the group’s market cap now stands at $260 billion — having grown faster than any company ever in India,” the ET report added.
Final Word
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Disclaimer
This article is solely for educational purposes. Navi doesn't take any responsibility for the information or claims made in the blog.
