Adani has ambitions to increase the capacity of its hybrid renewable power generation by 45 GW.
The second-richest person in the world, billionaire Gautam Adani, announced on Tuesday that his company would invest $100 billion over the following ten years, especially in the digital and energy transitions as well as industries including aerospace and defense, metals, and petrochemicals.
Adani has been actively diversifying his business, and his most recent entry into the cement industry was the $6.5 billion acquisition of Ambuja Cements Ltd. and ACC Ltd., which immediately elevated the group to the position of second-largest cement producer in the nation.
The group also disclosed plans to invest up to 57,575 crores in the alumina and iron ore industries. The Adani group, which began as a commodities trading firm in the late 1980s, has expanded over time to include businesses in ports, airports, power, renewable energy, gas distribution, and data centers.
“Over the next ten years, we will collectively invest more than $100 billion in capital. 70% of this funding has been set aside for the energy transition sector. We are already the biggest solar player in the world, and we want to achieve much more. Adani New Industries is the embodiment of our wager in the area of energy transition in this aspect. At The Forbes Global CEO Conference 2022 in Singapore, Adani stated, “It is our resolve to invest $70 billion in an integrated hydrogen-based value chain.
In order to increase its present capacity of 20GW, Adani wants to install 45 gigawatts (GW) of hybrid renewable power producing capacity.
He continued by saying that the organization would construct three gigafactories in India, which would enable the commercialization of three million metric tonnes of green hydrogen.
The group is also building a 10GW silicon-based photo-voltaic value chain that will be backward-integrated from raw silicon to solar panels, a 10GW integrated wind turbine manufacturing facility, and a 5GW hydrogen electrolyzer factory.
“Today, we can confidently state that we have a line of sight to first—become one of the least expensive producers of the green electron—and thereafter—the least expensive producer of green hydrogen. It is an absolute game changer for India and opens up the unprecedented possibility that India could one day become a net energy exporter,” Adani said.
The company intends to construct consumer-based super-apps that would connect hundreds of millions of Adani’s B2C customers to a single digital platform and integrate these data centers via a network of terrestrial and internationally connected subsea cables pulled at its ports.
“Once completed, there are countless opportunities for revenue. A hundred of our solar and wind sites are already operating on the largest sustainability cloud we have ever built, which is controlled by a single enormous command and control center that will soon be supplemented by a global A-I lab. These are only a few of the adjacencies that our digital companies at Adani are mainstreaming, he said.
India will see multi-decade economic tailwinds, according to Adani, making it a relative bright spot in the world economy in light of the current unsettling circumstances.
The true India growth narrative is only now getting started. According to the billionaire, now is the perfect time for businesses to take advantage of India’s economic revival and the wonderful multi-decade tailwind that the largest and most dynamic democracy in the world provides.