Adani Group has unveiled ambitious plans to invest approximately ₹2 lakh crore by 2030 in expanding their renewable energy capacity to 40 gigawatts (GW), as part of their commitment to achieving net zero emissions by 2050. Currently, the conglomerate boasts a renewable energy capacity exceeding 10 GW, sourced primarily from solar and wind energy sources. Their strategy involves aggressive annual additions of 6-7 GW, with a significant emphasis on solar power accounting for 80% of the planned capacity, complemented by wind projects.
To bolster energy grid stability, Adani Group intends to develop a substantial 5 GW pump storage capacity, crucial for meeting peak demand periods when solar intensity and wind speeds are lower. This investment includes setting up manufacturing facilities for solar panel wafers and wind turbine production, aimed at enhancing local manufacturing capabilities.
Highlighting their strategic initiatives, Adani Green Energy Ltd (AGEL) has already made significant strides in renewable energy expansion. In the fiscal year 2023-2024 alone, AGEL added 2.8 GW to India’s renewable energy capacity, representing 15% of the country’s total addition for that period. They continue to push forward with their landmark projects, including the world’s largest renewable energy project in Khavda, Gujarat, spanning 30,000 MW across 538 square kilometers.
Additionally, AGEL is advancing plans for a substantial pumped storage project (PSP) capacity of 5,000 MW by 2030, starting with the construction of a 500 MW PSP facility in Andhra Pradesh. Their portfolio currently stands at 10,934 MW operational capacity, consisting of solar, wind, and hybrid projects, making them a leader in India’s renewable energy sector.
With a robust pipeline of projects across states like Maharashtra, Tamil Nadu, and Telangana, Adani Group is poised to significantly contribute to India’s renewable energy goals while solidifying its position as a key player in global sustainable energy solutions.
