Digital Desk: In order to become a net exporter of clean energy, Adani Group Chairman Gautam Adani announced on Tuesday that the business would invest $70 billion in infrastructure and green energy transition projects. "The Adani Group's success depends on its alignment with the growth story of India, and I firmly believe that no other country is better positioned than India.
"Our
commitment of $70 billion to support India's green transformation is the best
evidence which demonstrated our faith and belief in the future," Mr. Adani
said at the annual shareholders' meeting of Adani Enterprises, the group's
flagship company.
Here are some of
the highlights from his speech :
* "Since 2015, India's
capacity for renewable energy has virtually tripled. In fact, compared to
20-21, capital investments in renewables increased by an astounding 125 percent
over the past year. There is no stopping India right now because more than 75%
of the rapidly increasing incremental demand is anticipated to be satisfied by
the expansion of renewable energy production."
* "The Adani Group had
another breakthrough year in 2021–2022."
* "We have
never stopped investing in India and we have never slowed down our
investments."
* "We now
have a sizable worldwide portfolio of renewable energy sources, but over the
past 12 months, we have also achieved outstanding success in a number of other
areas. We quickly rose to the position of being India's largest airport
operator. We are involved in the adjacent businesses of developing
"aero-tro-polises" and establishing specialised neighborhood-based
economic hubs around the airports that we already run."
* "We are
the biggest FMCG firm in the nation thanks to the successful IPO (initial
public offering) of Adani Wilmar. We are now the second-largest cement
manufacturer in India thanks to the acquisition of Holcim's assets in the
country, which include two of the most recognisable brand names in the nation:
ACC and Ambuja Cements. This is a perfect illustration of how our
adjacency-based business model operates."
* "This
year, the market capitalisation of our united group was more than $200
billion."
"EBITDA increased
by 26% as a result of our focus on operational excellence throughout our
business and the accretive capacity expansion. Portfolio EBITDA was 42,623
crores rupees. Our diverse variety of businesses had this varied growth in
FY22. Our utility portfolio increased by 26%, our transport and logistics
portfolio increased by 19%, our FMCG portfolio increased by 34%, and our
incubator company, Adani Enterprises Limited, increased by 45%."
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