Adani Group announces US$100bn investment plan

Adani Group announces US$100bn investment plan
29 September 2022

The Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd, instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint.

"As a group, we will invest over US$100bn of capital in the next decade. We have earmarked 70 per cent of this investment for the energy transition space. We are already the world's largest solar player and intend to do far more. In this context, Adani New Industries is the manifestation of the bet we are making in the energy transition space. It is our commitment to investing US$70bn in an integrated hydrogen-based value chain," said Mr Adani.

According to Mint, Adani's plans in the energy transition space include adding 45GW of hybrid renewable power generation capacity to increase its current capacity of 20GW. This will lead to the commercialisation of 3Mt of green hydrogen, with the group building three gigafactories in India. Adani is also building a 10GW silicon-based photovoltaic value chain that will be backwards-integrated from raw silicon to solar panels, a 10GW integrated wind-turbine manufacturing facility, and a 5GW hydrogen electrolyser 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," added Mr Adani.

This latest announcement follows Adani's pledge to double its cement production capacity over the next five years, taking it from 70Mta to 140Mta.

Published under Cement News