In response to a short-seller onslaught, Adani Group is pursuing its signature rapid growth plans and aims to invest around Rs 2.3 trillion through 2030 in India’s most ambitious renewable energy expansion and addition of solar and wind manufacturing capacity ever.
According to a top company official, Adani Green Energy Ltd, the largest renewable energy company in India, plans to invest approximately Rs 1.5 trillion to increase the capacity of solar and wind power generation at Khavda in Gujarat’s Kutch to 30 gigawatts from 2 GW currently. Additionally, the company will invest another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country.
“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,” stated Vneet S Jaain, Managing Director, AGEL.
According to Jaain, a prominent director on the board of ANIL, ANIL intends to expand its Mundra cell and module manufacturing plant from its present 4 GW to 10 GW by 2026–2027 in order to support these ambitions, as well as meet the requirements of other domestic renewable players and the export market.
The current operational portfolio of AGEL consists of 2,140 MW of wind-solar hybrid capacity, 1,401 MW of wind, and 7,393 MW of solar power.
The Adani Group, whose operations include seaports, natural gas distribution, mining, copper production, airports, data centers, and commodities industry, has allocated Rs 1.2 trillion for capital expenditures for the 2024–25 fiscal year (April 2024–March 2025).
With 10,934 MW of current capacity, it will power over 5.8 million homes and prevent approximately 21 million tonnes of carbon dioxide emissions annually. Its portfolio accounts for more than 15% of India’s utility-scale solar installations and approximately 11% of the country’s installed utility-scale wind and solar capacity.
