While undergoing this energy transformation, Adani said it is also making sure that the group's objectives continue to align with national demands.
Digital Desk: Group chairman of the Adani Group, Gautam Adani, announced "game-changing" plans on Tuesday that he claimed could turn India into an energy exporter and commit the company to spend an additional $100 billion over the following ten years.
70% of the group's new investments are designated for infrastructure and space for the energy transition. "We are now the biggest solar player in the world, and we want to do much more. Adani New Industries is the embodiment of our wager in the area of energy transition in this aspect. We have committed to investing $70 billion in a comprehensive value chain based on hydrogen "Adani made this comment in Singapore at the Forbes Global CEO conference.
"The new company will add 45 GW of hybrid renewable power generation over 100,000 hectares, or an area 1.4 times the size of Singapore, to our current 20 GW renewables portfolio. Three million metric tonnes of green hydrogen will eventually be commercialised as a result of this." In this industry, Adani Group will construct three gigafactories in India to produce solar panels, wind turbines, and hydrogen electrolyzers.
"We are creating a 10 GW integrated wind-turbine manufacturing facility, a 5 GW hydrogen electrolyser factory, and a silicon-based photovoltaic value-chain that will be backward-integrated from raw silicon to solar panels," he stated.
"We can confidently say today that we have a clear path to being the cheapest producer of green hydrogen and one of the cheapest producers of the green electron. It completely changes the game for India and creates the hitherto unimaginable possibility that India could one day become a net energy exporter " he said.
While undergoing this energy transformation, Adani said it is also making sure that the group's objectives continue to align with national demands.
"Critics want us to immediately stop using any fossil fuels that India requires to support its sizable population. India would not benefit from this. Despite having 16% of the world's population, India still emits less than 7% of all CO2 globally, and this ratio is steadily declining “he said.
Regarding the group's objectives for digital transformation, Adani noted that India is home to an industry that is expanding rapidly. "This industry uses more energy than any other in the world, therefore our decision to develop green data centres is a differentiator that will change the game. We will construct consumer-based super-apps that will gather the hundreds of millions of Adani's B2C consumers on one common digital platform and interconnect these data centres via several terrestrial and globally connected subsea cables drawn at our ports."
"Once completed, there are countless ways to earn money. We also recently completed building the largest sustainability cloud in the world, which is already powered by 100 of our solar and wind farms and is controlled by a single enormous command and control centre that will soon be supplemented by a worldwide A-I lab. These are only a few of the adjacencies that Adani's digital enterprises are mainstreaming."
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