Billionaire businessman Gautam Adani on Tuesday announced that his conglomerate will be investing $20 billion during the course of the next 10 years in the renewable energy segment and will also produce the world’s cheapest green electron.
Mr Adani, who was addressing an investor summit, said that the investment will be made in renewable energy generation, component manufacturing as well as transmission and distribution.
The Adani Group has been active in the renewable sector segment for many years now and interestingly the announcement about investing such a quantum of money in the sector has come just weeks after Reliance Industries Limited chairman Mukesh Ambani had said in June that he would be investing Rs 75,000 crore over the next three years in clean energy and hydrogen fuel.
Meanwhile the Adani Group aims to increase its renewable power generation capacity by three times over the next four years. It also plans to enter into green hydrogen production and is even looking at turning its ports into net carbon zero by 2025.
He said during the summit that his conglomerate also aims to spend more than 75 per cent of its capital expenditure till 2025 in green technologies.
“Our integrated value chain, our scale and experience puts us on the path to be the producer of the least expensive green electron anywhere in the world,” he said.