Adani to invest $100 billion across new energy, data centres
The Hindu
These new businesses will add to the burgeoning Adani empire which already is the largest airports and sea ports operator in India
Adani Group will invest $100 billion over the next decade, primarily in new energy and digital space that includes data centres, Chairman Gautam Adani said on September 27, as the group bets big on India growth story.
As much as 70% of this investment will be in the energy transition space, Mr. Adani, the world's second-richest person, said as he continued to reveal bit by bit the group's new energy plans.
The ports-to-energy conglomerate will add 45 gigawatts of hybrid renewable power generation capacity and build 3 Giga factories to manufacture solar panels, wind turbines and hydrogen electrolyser.
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"As a Group, we will invest over $100 billion of capital in the next decade. We have earmarked 70% of this investment for the energy transition space," Mr. Adani, founder and chairman of Adani Group, said at the Forbes Global CEO conference in Singapore.
Starting off with a modest commodities business in 1988, the 60-year-old tycoon surpassed Jeff Bezos of Amazon, French business magnate Bernard Arnault and American businessman Bill Gates to become the world's second-wealthiest person with a fortune of $143 billion.
With interests spanning sea ports, airports, green energy, cement and data centres, the combined market capitalisation of the group's listed companies is $260 billion.
