Adani Group to invest Rs 2.3 Lakh Crore in renewable energy

The Adani Group is set to inject approximately Rs 2.3 trillion into India's most ambitious renewable energy expansion and manufacturing capacity for solar and wind energy by 2030.

This investment surge comes despite a recent short-seller attack, showcasing the group's steadfast commitment to its rapid growth objectives.

Adani Green Energy Ltd, the country's largest renewable energy firm, will channel around Rs 1.5 trillion to ramp up its solar and wind power generation capacity at Khavda in Gujarat's Kutch region from the current 2 GW to an impressive 30 GW.

An additional Rs 50,000 crore will be allocated to replicate similar projects across the country. Meanwhile, Adani New Industries Ltd (ANIL), a unit within Adani Enterprises Ltd, will contribute nearly Rs 30,000 crore towards expanding solar cell and wind turbine manufacturing capacities at Mundra in Gujarat.

AGEL, which currently has an operating portfolio of 10,934 megawatts (10.93 GW), is targeting 45 GW of renewable energy capacity by 2030. 30 GW of this will come up at just one location at Khavda - the world's largest renewable energy project.

"We have just now commissioned 2,000 MW (2 GW) of capacity at Khavda and plan to add 4 GW in the current fiscal (financial year ending

March 2025) and 5 GW every year thereafter," said Vneet S Jaain, Managing Director, AGEL.