Investment in Renewable Energy: After Mukesh Ambani, now Gautam Adani also announced to invest $ 20 billion in renewable energy
Clearing his group’s agenda for green energy, billionaire industrialist Gautam Adani said on Tuesday that his group will invest $ 20 billion in renewable energy generation and manufacturing of components over the next 10 years and will be the largest in the world. Will produce cheap green electrons.
He added that the group will aim to triple its renewable energy generation capacity over the next four years, enter the region in green hydrogen production, run all data centres on renewable energy, reduce carbon emissions from its ports to zero by 2025 and It has planned to spend 75 percent of the capital expenditure in green technologies.
The Adani Group chief gave this information during his address at the JP Morgan India Investor Summit. He said that $ 20 billion will be invested in the areas of renewable energy generation, manufacturing of components, transmission and distribution. The industrialist said that the Adani Group’s “integrated value chain, our size and experience are on our way to become the cheapest Green Electron manufacturer in the world.”
Earlier recently, Reliance Industries chief Mukesh Ambani has also announced an investment of Rs 75,000 crore ($ 10 billion) in clean energy and hydrogen fuel in three years. Ambani said this month that in a decade, hydrogen could be made from renewable energy at a cost of $1 per kilogram. Hydrogen does not emit carbon and can be used as a fuel in industry and automobiles.