AUGUST 20248TOP STORIESADANI GROUP RAISES CAPEX FROM RS.70,000 CR TO 1.3L CRHZL & AESIR TO JOINTLY DEVELOP NEXT GENERATION OF BATTERIESThe Indian ports-to-power conglomerate Adani Group will significantly increase its capital expenditures in fiscal year 2025 to 1.3 trillion rupees ($15.6 billion), up from 700 billion rupees the previous year, according to Chief Financial Officer Jugeshinder Singh. This announcement highlights the group's aggressive investment strategy aimed at expanding its infrastructure and renewable energy capabilities.Adani Green Energy, the renewable energy arm of the conglomerate, will allocate 340 billion rupees to add 6 gigawatts of capacity. This substantial investment underscores the group's commitment to enhancing its renewable energy portfolio amid a global push for cleaner energy sources.The increase in capital expenditures aligns with billionaire owner Gautam Adani's assertion that the group is "well positioned" to capitalize on opportunities in India's rapidly expanding infrastructure sector. Adani emphasized that infrastructure spending in the country is expected to grow at a compounded annual growth rate of 20 percent -25 percent, providing ample opportunities for the group's diverse businesses, which span ports, power utilities, transmission, and coal trading.During a media briefing in Ahmedabad, Gujarat, Singh also addressed speculation regarding the group's interest in the fintech sector. He denied reports that Adani Group plans to take a stake in the payments firm Paytm but noted that the group remains open to evaluating opportunities within the fintech space. This statement indicates Adani Group's broader interest in expanding into new and potentially lucrative markets while maintaining its focus on core infrastructure and energy projects. As part of its efforts to bolster the ongoing global energy transition, Hindustan Zinc (HZL), India's largest and the world's second-largest zinc producer, has signed a MoU (memorandum of understanding) with AEsir Technologies, Inc., a US-based company specializing in next-generation zinc battery technologies. Under this MoU, Hindustan Zinc will be the preferred supplier of zinc, a key raw material for AEsir Technologies' next-generation batteries. Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and a longer lifespan of up to 20 years. TAESir's Nickel Zinc (NiZn) batteries have proven dependable and successful in the high-end defence sector (including aerospace and marine), renewable energy and critical infrastructure for data centres and 5G telecom etc. Decades of continuous improvement at live locations have enabled AEsir's NiZn batteries to eliminate historical issues like electrolyte dry-out, metal branching (dendrite growth), and zinc migration.This groundbreaking collaboration demonstrates Hindustan Zinc'scrucial role in catering to the increasing demand for alternative energy solutions by being an active contributor of critical raw materials for the development of emerging clean technologies. As the world pivots towards a greener future, this collaboration between Hindustan Zinc and AEsir Technologies portends far-reaching implications for innovative energy storage solutions that promise a safer, cleaner, and more sustainable tomorrow. AUGUST 20248
< Page 7 | Page 9 >