Companies

Adani group aims to become largest solar, renewable energy company

Our Bureau Mumbai | Updated on January 22, 2020

Gautam Adani, CMD Adani group   -  Rajeev Bhatt

The Adani Group aims to become the world’s largest solar power company by 2025 and the biggest renewable energy firm by 2030.

In a Linkedin post, Adani Group Chairman Gautam Adani wrote that the age of renewable energy has dawned upon the world faster than most could have anticipated.

“Our vision is to become the world’s largest solar power company by 2025 and the largest renewable energy company by 2030,” he wrote.

In 2019, the Adani Group was ranked as the sixth 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, he added.

Adani’s existing portfolio of renewable power generating assets is estimated to be around 2.5 GW, which the company is expecting 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. “To make this happen, we have committed to investing over 70 per cent of our budgeted capex of the energy vertical into clean energy and energy-efficient systems,” Adani said.

In line with this, Adani Green Energy Ltd bought the solar assets of Essel Group for an enterprise value of ₹1,300 crore in August. With this acquisition, it got solar assets of 205 MW. Additionally, it also bought Inox Wind wherein it got 50 MW of wind power projects across 3 manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh.

Published on January 22, 2020

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