Adani Group Securing Funds for Airport Expansion and Green Hydrogen Projects: Reports

19 Feb 2024 , 10:08 AM

The Adani Group, a prominent Indian conglomerate, is making significant strides in its expansion endeavors, with reports suggesting advanced talks with sovereign funds in West Asia to raise up to $2.6 billion for airport expansion and green hydrogen projects. This move underscores the group’s commitment to diversify its portfolio and embrace sustainable initiatives.

With a targeted EBITDA of ₹80,000 Crore by March 2024, the Adani Group has conducted roadshows in key global financial centers such as London, Dubai, and Singapore to attract potential investors. These roadshows served as a platform to showcase the group’s ambitious growth plans, particularly highlighting its expansion in the airport sector and its entry into the emerging green hydrogen space.

In a recent development, Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel, signaling the group’s foray into real estate redevelopment projects. While the final approval is pending and awaits deliberation by the Maharashtra State Road Transport Corporation (MSRDC) Board, this venture reflects the group’s commitment to urban development initiatives.

Furthermore, Adani Green Energy Limited (AGEL), a subsidiary of the Adani Group, is poised to revolutionize the renewable energy landscape with its monumental plan to develop a 30 GW renewable energy plant in Khavda, India. Upon completion, this project is slated to become the world’s largest and is expected to generate a remarkable ~81 billion units of electricity annually. Such a colossal undertaking underscores AGEL’s commitment to combating climate change by preventing approximately 58 million tonnes of CO2 emissions each year, while also providing clean energy solutions to millions of homes.

AGEL’s ambitious expansion plans aim to increase its operational portfolio to 9,029 MW and its total portfolio to an impressive 20,844 MW, further solidifying its position as a leader in the renewable energy sector.