Adani has had a lot of bad press in Australia. There have been multitudinous protests and court cases. Yet, this massive Indian conglomerate has a lot of investments in renewables in Australia. I have actually been met with incredulity when I have tried to tell environmentalists this (and had to duck real quick to avoid the swing of a placard). They can’t believe that Adani Group is already the world’s largest solar power developer.
It is a case of investing in the best places to get a good and secure return on capital. IEEFA reports:
“Now, billionaire Gautam Adani said on Thursday, November 11th that his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world’s largest renewable energy company and produce the cheapest hydrogen on the Earth. Move over Twiggy Forrest.
“Adani Green Energy Ltd (AGEL), the world’s largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022–2023.
“Adani Transmission Ltd (ATL), India’s largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3% to 30% by FY 2023 and to 70% by FY 2030.”
Adani’s goals are no less than world (energy) domination. “By 2030, we expect to be the world’s largest renewable energy company without any caveat – and we have committed $70 billion over the next decade to make this happen,” Adani said at a recent conference. “There is no other company that has yet made so large a bet on developing its sustainability infrastructure.”
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.