Gurgaon: Adani Green Energy Ltd is set to embark on a monumental endeavor, aiming to invest Rs 1.5 lakh crore to enhance capacity to 30 gigawatts (GW) at its Khavda renewable energy project site in Kutch, Gujarat, over the next five years. This ambitious project, which is part of Adani Group’s broader plan to invest a total of Rs 2.3 lakh crore in renewable energy, marks a significant stride towards sustainable energy production.
During a site visit, Managing Director Vneet Jaain shared insights into the project’s progress, highlighting the company’s commitment to expanding capacity while maintaining a distinct separation from its group affiliate, Adani New Industries, a leading manufacturer of solar and wind power equipment.
Spanning an extensive 538 square kilometers of barren land in Khavda, Gujarat—equivalent to the size of Mumbai—this project aims to become the world’s largest renewable energy venture. Within a year of commencing operations, Adani Green has already launched 2GW of the planned 30GW capacity, showcasing rapid progress and unwavering dedication to the cause.
In addition to the substantial investment in the Khavda project, Adani Green plans to allocate another Rs 50,000 crore towards renewable energy projects, totaling 6-7 GW, in other locations by 2030. This concerted effort underscores the company’s long-term commitment to sustainability and clean energy initiatives.
With a goal of adding approximately 4 GW in the current financial year and scaling up to 6 GW by March 2025, Adani Green is poised for substantial growth in the renewable energy sector. Jaain emphasized the company’s plans to establish a presence in various parts of the country, further solidifying its position as a key player in the industry.
While the initial 2 GW capacity at Khavda is solar-based, plans are underway to incorporate wind energy capacity at the same site. Adani Green has already initiated windmill installation and aims to commence power generation later this year, further diversifying its renewable energy portfolio.
The commissioning of capacity at Khavda propels Adani Green’s operating portfolio to 10.9 GW, a significant milestone in its journey towards achieving the target of generating 45 GW of renewable energy by 2030, with Khavda playing a pivotal role in this endeavor.
Addressing concerns regarding financing, Jaain assured that the company has devised a robust financial management plan to support its ambitious growth trajectory. This plan entails leveraging various funding avenues, including internal accruals, equity, domestic loans, and external commercial borrowings, to meet the evolving financial requirements.
Jaain also shed light on Adani New Industries’ role in supporting the renewable energy initiatives, emphasizing a commitment to maintaining an “arm’s length” relationship between the two entities. While Adani Green may leverage equipment from Adani New Industries, decisions will be based on optimizing efficiency and cost-effectiveness.
Amidst plans for expanding manufacturing capabilities and bolstering renewable energy infrastructure, Adani New Industries remains focused on its core objectives, with Jaain reaffirming the company’s commitment to growth and innovation.
As Adani Green progresses towards its ambitious renewable energy targets, the world eagerly awaits the transformative impact of this monumental endeavor on the global energy landscape.
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