The 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%-25%, 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.
