Adani Group to invest about USD 35 bn to set up solar wind hybrid plants in 5 years Sagar Adani

Mumbai, Nov 18 (PTI) Adani Group will invest about USD 35 billion over the next five years to set up large-scale solar, wind and hybrid plants across different parts of the country, Adani Green Energy Executive Director Sagar Adani said on Monday.
    Adani Group is making one of the largest greenfield investments in energy sustainability and transition in the world, he added.    
    "We have embarked upon what I would say (is the largest greenfield development in the field of renewables by any company anywhere in the world. So, we're investing about USD 35 billion over the next five years to set up large-scale solar, wind and hybrid plants across different parts of the country," Adani said at a CEO panel discussion on 'Role of young leaders for Viksit Bharat@2047' at an SBI-hosted economic conclave here.
    The company is setting up a 30,000-megawatt single-location renewable energy plant in Khavda in Gujarat.
    "So we're doing arguably one of the largest greenfield investments in energy sustainability and transition in the world.
    "While we are doing whatever we can today, we think the possibility and the opportunity of what we can do is much larger," Adani said.
    "We have 500 GW of installed capacity, give or take. And we're one-third of the per capita consumption of electricity anywhere in the world. But that includes countries much poorer than India. Even if you want to get to the world average over the next 7-8 years, we need to add 1,000 GW of installed capacity into the country's grid," he noted.
    Moreover, to reach a level where China is today, there is a need to add an additional 1,500 GW capacity in the country's grid, he said, adding that in the case of matching developed countries, India needs to add 2,500 to 3,000 GW.
    The country also needs to think about nuclear energy and other things, which the government has been very proactively thinking about, Adani noted.
    "We think about it as a response to what the demand situation in the country is. So, we're not restricting ourselves only to renewables. Of course, 85 per cent of everything we're doing is investments in sustainable energy. But we're also doing traditional fossil energy as well and a lot more light coal, a lot more renewables across the board. And I think that's what India needs," he added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)