Adani Green Energy Powers Up with $22 Billion Investment

Adani Green Energy (AGEL) is set to make a substantial investment of an additional USD 22 billion in expanding its capacity by over five times by 2030, driven by the escalating demand for electricity. With a plan to allocate USD 4.5 billion, the company aims to augment its installed capacity by eight GW within the next two years, with a long-term goal of reaching 45 GW by the close of this decade.

In order to meet this ambitious target, AGEL is gearing up to accelerate its installation pace. The company is strategically concentrating on the domestic market initially, with plans to explore international expansion subsequently. AGEL's clean energy segment has experienced remarkable growth, witnessing a more than twofold increase in installed capacity over the past two years.

India is experiencing a seven percent annual growth in electricity demand, prompting the government to enforce the addition of both renewable and thermal capacity to avert potential blackouts. The government is actively working towards reducing its dependence on conventional fuel sources and aims to achieve 500 GW of clean capacity by the year 2030.

News by Rahul Yelligetti