NE BUSINESS BUREAU
NEW DELHI, JUNE 30
Adani Group has achieved its target to set up 25 gigawatts (GW) of renewable energy capacities in India, four years ahead of the schedule, its Chairman Gautam Adani said on Wednesday.
The target was achieved in May, the industrialist said during a virtual session of the India Global Forum 2021.
Earlier, the group company Adani Green Energy Ltd (AGEL) had said it was on track to achieve its target to have 25 gigawatts of renewable energy capacity by 2025 through organic and inorganic growth.
“In 2020, we became the largest solar company in the world. Last month (May 2021), we caught up to our renewables target of 25 GW, a full four years ahead of schedule.
“Our green energy arm is on track to be the world’s largest renewable energy company by 2030. No other organisation in the world has accelerated its renewables footprint as rapidly as the Adani Group,” he said.
In his address, Adani also said that as a part of Atmanirbhar Bharat, the group is doubling its solar cell and module manufacturing capacity to 4 GW.
The group is also expanding the domestic manufacturing ecosystem for renewables business, including a new wind turbine manufacturing cluster in Mundra, he added.
The group’s businesses are aligned not just with India’s climate change goals but also with the global drive towards net-zero emissions, he said.
Adani added that its ports are committed to becoming carbon neutral, achieving zero waste to landfill, replacing single-use plastic, and to afforestation exceeding 5,000 hectares by 2025.
Adani further said, “Every new business that we incubate is driven by sustainability goals, be it a network of data centres powered by renewable energy, green hydrogen exploration with partners like Snam and Tecnimont, or the green hydrogen projects.
“Adani Group intends to continue investing in such technologies and take the steps to fulfill our ESG (environmental, social and governance) goals.
“We will do so by carefully balancing our energy migration from carbon-positive to carbon-neutral, and further on to carbon-negative,” he said.
CCI approves Adani Green’s acquisition of entire stake in SB Energy
Fair trade regulator CCI on Wednesday approved acquisition of entire shareholding in SB Energy by Adani Green Energy Ltd.
In May, Adani Green Energy had said it has inked share purchase agreements with SoftBank Group and Bharti Group for acquisition of 100 percent stake in SB Energy India for $3.5 billion.
The transaction would be the largest acquisition in the renewable energy sector in the country.
With this acquisition, AGEL will achieve total renewable capacity of 24.3 GW and operating renewable capacity of 4.9 GW.
According to Adani Green’s statement issued in May, SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India.
“Commission approves proposed acquisition of the entire shareholding of SB Energy by Adani Green Energy,” the regulator said in a tweet.
