Khavda in focus: Adani Green to invest ₹2 Lakh Crore

8 Apr 2024 , 12:46 PM

By 2030, Adani Green Energy Ltd. is probably going to invest about ₹ 2 Lakh Crore to increase its capacity for renewable energy.

The corporation intends to increase the amount of renewable energy it uses overall from 10.9 GW to roughly 45 GW by 2030. The majority of the expansion will take place in Khavda in the Kutch area of Gujarat, where capacity will be increased from the current 2GW to 30 GW.

About ₹50,000 Crore of the whole investment plan, according to a company executive, is allocated for capacities beyond Khavda that add up to about 6-7 GW.

Currently, the company has 2,140 MW of wind-solar hybrid capacity, 1,401 MW of wind, and 7,393 MW of solar capacity total. According to Vneet Jaain, managing director of Adani Green, the Khavda project, the largest renewable energy park in the world, would have a capacity of 6 GW by the end of this fiscal year.

“There are power purchase agreements for power from Khavda for Adani Green and there is a huge captive requirement of renewable power by group companies which Khavda can provide,” he stated. The market capitalization of Adani Green exceeds ₹ 3 Lakh Crore.

Adani New Industries Ltd., a division of Adani Enterprises Ltd., the parent company of the group, produces solar and wind energy equipment and plans to invest over ₹30,000 Crore in capacity expansion by 2030. Director of this unit Jaain stated that the company aims to increase its wind turbine production capacity from 1.5 GW to 5 GW by FY27.

According to him, the company intends to increase its capacity for producing solar modules by 10 GW over the next three and a half years.

Adani Green sources solar panels and modules from Adani New Industries, however Jaain clarified that this is not related to sourcing for the company’s generating unit because the arm is a separate entity.

The limitation of the approved list of models and manufacturers does not apply to some of the renewable energy capacity being produced by Adani Green, he said, so materials can be purchased from anywhere.

He said that the company will source modules locally like other companies in the event that the limitation is relevant and no longer allows international enterprises.

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