Adani Green Energy Aims for 45 GW Renewable Capacity by 2030, Spearheading India's Carbon Neutrality Goal

16 Aug 2023 , 01:44 PM

Reports indicate that Adani Green Energy Ltd. possesses an operational renewable energy capacity of 8,316 megawatts (8.3 GW) and is actively developing another 12,118 MW. With the intention to aid India’s carbon neutrality aspirations and reduce emissions, Gautam Adani’s renewable energy company has ambitious plans to install 45 GW of renewable energy capacity by 2030.

Key stakeholders include the substantial French energy company Total Energies, owning a 19.7% stake in AGEL. Furthermore, Qatar Investment Authority (QIA) and US investment firm GQG Partners recently acquired 2.8% shares each in the company.

AGEL’s strategies for financing the expansion of renewable capacity remain undisclosed. As India strives for a renewable energy capacity of around 10% by 2030 to achieve its net zero carbon emission objective by 2070, AGEL is at the forefront of this endeavor.

Apart from AGEL, other significant green energy initiatives have been announced by state-owned NTPC, Tata Power, ReNew Power, and Acme Solar. Rajiv Jain of GQG praised the effectiveness of the Adani family, citing factors like prompt payment processing.

Utilizing the abundant and emission-free green energy from sources like wind and sunlight in regions such as Gujarat and Rajasthan, AGEL is contributing to the nation’s carbon reduction efforts. In FY23, AGEL generated 14.8 million MWh of renewable electricity, averting 13.5 million tonnes of carbon dioxide emissions, equivalent to 8.9 million cars. ISS-ESG ranked AGEL as the top renewable energy company in Asia and among the ‘Top 10 RE companies globally’ in its ESG assessment.

As the world’s largest solar developer, AGEL is on track to become India’s largest renewable energy company and a prominent global player in the renewable energy sector.