Adani Group is set to invest over $100 billion (approximately Rs 8.34 lakh crore) in energy transition projects and manufacturing capabilities, aiming to produce every major component required for green energy generation, Chairman Gautam Adani announced on Wednesday.
At the "Infrastructure - the Catalyst for India's Future" event hosted by Crisil, Adani detailed the conglomerate's ambitious plans, which include the development of solar parks and wind farms. Additionally, the Group is building facilities to manufacture electrolyzers for green hydrogen production, wind power turbines, and solar panels.
"Energy transition and digital infrastructure are trillion-dollar opportunities poised to transform India on both local and global scales," Adani stated. "The next decade will see us invest more than $100 billion in the energy transition space, expanding our integrated renewable energy value chain."
A significant component of this plan is the production of green hydrogen, which is created by splitting hydrogen from water using electrolyzers powered by renewable energy. This technology is viewed as a key solution for decarbonizing industries and transportation.
Highlighting their ongoing projects, Adani mentioned the construction of the world's largest single-site renewable energy park in Khavda, Gujarat, which will generate 30 GW of power. This initiative will contribute to Adani Group's goal of achieving a total renewable energy capacity of 50 GW by 2030.
"The energy transition space will fundamentally change the global energy landscape," Adani said. "The global transition market, valued at approximately $3 trillion in 2023, is expected to grow to nearly $6 trillion by 2030 and double every 10 years thereafter."
India's target of installing 500 gigawatts of renewable energy capacity by 2030 requires annual investments exceeding $150 billion. This transition is anticipated to create millions of jobs in sectors like solar and wind energy, energy storage, hydrogen, EV charging stations, and grid infrastructure development.
Addressing the digital infrastructure sector, Adani described data as the "new oil," with data centers being crucial for computational needs, including AI workloads for machine learning, natural language processing, computer vision, and deep learning. However, this will significantly increase energy consumption, making data centers one of the largest energy-consuming industries globally.
"The infrastructure for energy transition and digital transformation are now inseparable," Adani noted. Adani Group's digital footprint will encompass industrial clouds, cybersecurity offerings, super apps, AI labs, and data centers, all designed to leverage green energy for the digital revolution.
By 2030, the world is expected to require an additional 100 to 150 GW of green energy solely for AI data centers. Adani revealed that the Group holds India's largest order book for data centers and is in discussions for additional gigawatt-scale green AI data centers.
"This makes the energy transition even more complex and is raising electricity prices, further impacted by climate change and demand growth," he added. Adani Group is uniquely positioned to deliver these essential infrastructures, integrating the energy transition with the digital transformation.