Adani Group To Invest $100 Million In Green Energy Transition Over Ten Years

The conglomerate stated that five of the group’s firms, namely Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements, have set a target to become net zero by 2050.

Adani Group said on Tuesday that it plans to invest $100 million in green energy transition in the next decade. The conglomerate released its half-yearly ESG report and stated that five of the group’s firms, namely Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements, have set a target to become net zero by 2050.

The portfolio businesses of the conglomerate are engaged in actively sourcing renewables, electrifying operations, adopting biofuels, and deploying waste heat recovery and energy storage technologies. 

Among the company’s achievements on the ESG front, the firm said that Adani Electricity Mumbai, a subsidiary of Adani Energy Solutions, increased its renewable energy share in the overall mix to 38.3 per cent, making Mumbai the dominant procurer of renewable energy amongst all megacities. Further, Adani Energy Solutions received a score of 86 per cent from CSRHUB, a ESG global performance rating agency. 

Adani Green Energy managed to achieve zero waste to landfill for all its operational sites in the first half of the current fiscal year, the company said. Adani Ports & SEZ, on the other hand, logged a 15 per cent share of renewable energy in the total energy mix, and managed to reduce energy emission by 48 per cent and water consumption intensity by 59 per cent in the first six months of FY24.

Further, Adani Enterprises, the flagship entity of the Adani Group, informed that it is building three giga-factories which will have a target to develop 10 GW solar panels, 10 GW wind turbines, and 5 GW hydrogen electrolysers as part of the firm’s low-cost integrated green hydrogen project. 

As part of the innovations, the firm said that it is conducting experiments with green hydrogen-based decarbonisation solutions. Adani Power also collaborated with IHI Corporation and Kowa company to explore ammonia co-firing at the firm’s Mundra plant, as part of its initiatives to lower emissions and enhance sustainable energy. 

Adani Enterprises also finalised an agreement with Ashok Leyland and Ballard Power to develop a hydrogen Fuel Cell Electric Truck (FCET) for mining logistics and transportation. The group also committed to planting 100 million trees by 2030.