Adani Green Energy Ltd is set to make a significant investment of approximately Rs 2 lakh crore by 2030 to bolster its renewable energy capacities.
The company's objective is to elevate its total renewable energy portfolio to around 45 GW by 2030, a considerable increase from the current 10.9 GW.
As per reports, the primary expansion is earmarked for Khavda in Gujarat’s Kutch district, where the capacity is set to surge to 30 GW from the existing 2 GW.
A company representative disclosed that out of the total investment, approximately Rs. 50,000 crore is designated for capacities beyond Khavda, targeting approximately 6-7 GW.
Adani Green’s current capacity comprises 7,393 MW of solar, 1,401 MW of wind, and 2,140 MW of wind-solar hybrid.
"At the Khavda project, touted as the world’s largest renewable energy park, the capacity is projected to reach 6 GW by the end of the current fiscal year" Adani Green’s managing director, Vneet Jaain said.
He emphasized the existence of power purchase agreements for Khavda's power, catering to Adani Green's needs and the substantial captive demand for renewable power within the group companies.
With a market capitalization exceeding Rs 3 lakh crore, Adani Green is forging ahead in the renewable energy sector. Its subsidiary, Adani New Industries Ltd, a part of Adani Enterprises Ltd, is gearing up to invest over Rs 30,000 crore by 2030 to expand its manufacturing capacity for solar and wind energy equipment.
Jaain clarified that Adani Green’s procurement of solar panels and modules from Adani New Industries is managed separately and does not directly impact the generation unit.
He also mentioned that while there are no restrictions on models and manufacturers for certain renewable energy capacity projects, the company will adhere to local sourcing if foreign companies are barred in the future.
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