Adani Group to invest 20 bn dollars in renewable sector over next decade
Hyderabad : Adani Group Chairman Gautam Adani on Monday said that we will invest over 20 billion dollars in renewable energy generation.
In his virtual keynote address at the world’s largest ‘TiE (The Indus Entrepreneurs) Sustainability Summit 2021(TSS- 2021) organized by TiE Hyderabad Chapter, here, Gautam said we are tripling our solar power generation capacity over the next four years.
This is a rate of growth currently unmatched by any other company anywhere on the planet, he said that our Renewables Portfolio has reached the initial target of 25GW a full four years ahead of schedule.
Today, we are already the world’s largest solar power player, he claimed and said this puts us well on track to be the world’s largest renewable power generating company by 2030.
Our overall organic and inorganic investments across the entire green energy value chain will range between 50 and 70 billion dollars, the Chairman said this will include investments with potential partners for electrolyzer manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms. We are confident that our integrated value chain, our scale, and our experience put us on the road to be the producer of the least expensive green electron anywhere in the world, he informed.
There is no vaccine for climate change like Covid 19, he said the Director-General of the World Health Organization summarized it well when he said there is no vaccine for climate change .
The annual rate of increase in atmospheric CO2 emissions since 1970 is up almost 100 times. The search for sustainable solutions starts with admitting that the current situation is unsustainable. Gautam said the task before us is not just to find solutions to climate change, also to ensure — through science, policy, and technological development — that the principles of
equitability are not ignored.
As an entrepreneur, I stay optimistic. I believe that the Covid 19 pandemic has forced us to find the will to kick start a massive ESG-driven economic transformation, he said and expressed confidence that the most viable climate change solutions will be digital, and technology-driven — supported by policies that help accelerate adoption.
He said that this convergence of sustainability and digitization will establish new disruptive business models that will create the next set of unicorns. This is where organizations like TiE become essential — they enable collaboration across entrepreneurs and investors who see opportunities wherever intersections and friction exist.
Speaking about India, Gautam said, last year when I spoke here, I had said that over the next three decades India will become a 28 trillion dollar economy. It is now expected that by 2050, India’s per capita income will expand from about one-thirtieth of that of the United States to one-third of the latter’s per capita income. That is an astonishing rise.
In 2050, the median age of 1.6 billion Indians will still be just 38 years, he said the world will never again see a middle class as large as the one India will have – and that at such a peak consuming age.
In addition, the digital acceleration in India is just beginning and will create a tailwind not yet factored into the assumed 8 percent nominal growth rate, Gautam said that he would believe the Indian economy is still to hit its inflexion point of decades of double-digit growth.
“I may have understated my 2050 GDP projection of $28 trillion”, he said “I expect India to become the world’s top target destination for an immense quantum of FDI over this period, making the tailwind even stronger.”
At the upcoming COP 26 summit in Glasgow in November, Gautam said the world’s most powerful countries will lay the foundation for a series of global policy changes.
Source : uniindia
