Adani Group to Invest Rs.2,00,000 Crore in Gujarat's Green Energy Sector

The Adani Group plans to invest Rs 2 lakh crore ($24 billion) in Gujarat's green energy and renewable energy sectors over the next five years, according to Gautam Adani, chairman of the Adani Group. According to Adani, this investment could generate approximately 1 lakh direct and indirect jobs in the state.

He went on to say that at the previous summit, the company committed to investing Rs 55,000 crore. According to him, the company has already invested more than Rs 50,000 crore from this fund.

"We have already surpassed Rs. 50,000 crore across the various sectors I had promised and have vastly exceeded our target of 25,000 direct and indirect jobs," he said.

The company is currently building a green energy park in Kutch with a 30 GW capacity spread over 25 sq km, which is also visible from space, Adani added.

"We are expanding the green supply chain for an Atmanirbhar Bharat and creating the largest integrated renewable energy ecosystem. This includes solar panels, wind turbines, hydrogen electrolysers, green ammonia, PVC, and expansions in copper and cement production," he said.

Since 2014, India has achieved a 185 per cent growth in GDP and 165 per cent growth in per capita income which is unparalleled given the geopolitical and pandemic-related challenges, Adani said. Following a wild ride on the wealth rankings last year, Gautam Adani reclaimed the top spot as Asia's richest person a few days after the Supreme Court ruled that no further investigations into the shocking allegations made by Hindenburg Research against the tycoon's group were required.

Adani's net worth increased $7.7 billion in a single day to $97.6 billion, allowing him to surpass Indian colleague Mukesh Ambani as the region's richest person, according to the Bloomberg Billionaires Index. According to the index, Ambani, the chairman of Reliance Industries Ltd., was a distant second with a net worth of $97 billion.