Adani Group to invest $100 billion in green energy in next 10 years

Adani Group is going to invest 100 billion dollars in Green Energy Transition in the next 10 years.

The Group released a 6-month ESG compendium indicating significant progress on the Group's decarbonisation path and its ambition to achieve global net zero targets.

Gautam Adani Group is at the forefront of India's green energy transition. The group has set a target of becoming net-zero by 2050 or earlier for its five portfolio companies – Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC and Ambuja Cement. Ambuja Cements is also India's largest integrated infrastructure developer.

ESG or environmental, social and governance parameters are used to screen investments based on corporate policy and to encourage companies to operate responsibly.

Adani Group said in its statement that it will invest $100 billion in green energy transition in the next 10 years. The company said in the statement that Adani Portfolio Business has an active strategy for de-carbonizing, planting 100 million trees by 2030 and starting innovative pilot projects including the development of hydrogen fuel cell electric trucks.

Along with this, the group has also explained the strategy to develop the green hydrogen ecosystem, which is included in the world's most ambitious project, on the western coast of Gujarat. This ecosystem is completely based on integrated value chain.

At the same time, the roadmap for net-zero transition will require Last-Mile Green Hydrogen Solutions. Adani Group is equipped with large-scale renewable energy and end-to-end EPC (Engineering, Procurement and Construction) capabilities to enable green hydrogen solutions.

'Adani Electricity Mumbai', a subsidiary of Adani Energy Solutions, has increased its renewable energy share to 38.3 percent. With this, Mumbai has become the leading procurer of renewable energy among all the megacities. This has been possible through collaboration between portfolio companies Adani Energy Solutions and Adani Green Energy.

According to Sustainalytics, Adani Green Energy is the world's highest rated utility company. In the first 6 months of the financial year, the renewable energy company has achieved the target of zero waste in landfills for all operational sites. With this, all sites of 200 MW or more have become net water positive.