Green Growth - Adani Capturing India’s Green Business Opportunity
Energy demand will rise because India has the largest economy with the highest projected growth this decade. The five-point Panchamrit sustainability strategy, presented by Prime Minister Narendra Modi during his COP26 speech in Glasgow, lays out India’s commitment to sustainability.
In addition, our Prime Minister launched the LIFE = Lifestyle for Environment initiative, which calls on every citizen to improve their way of life to slow down climate change. To further strengthen reporting and evaluation of ESG obligations, Adani portfolio companies have established independent audit and corporate responsibility committees. The ESG targets have all undergone independent audits, verifications and assurances.
The Adani Group sets the standard for sustainable lifestyle options for Indian consumers by enabling them to choose green power.
Decarbonisation of the Power Sector
Adani Energy Solutions Limited (earlier known as Adani Transmission Limited), Adani Electricity Mumbai Limited and Adani Green Energy Limited, which make up the core of the Adani portfolio, are steadfastly dedicated to the decarbonisation of power generation and to providing green electricity to Mumbai’s residents and other customers who share this commitment.
The following initiatives have been put in place by the Adani Group:
- Green Power Infrastructure, comprising a 1,690 MW project located in Jaisalmer, Rajasthan, with a capital outlay of USD 1.8 billion that was fully funded by a mix of 12 international banks and AGEL’s internal resources.
- Renewable transmission infrastructure, such as transmission lines, allow green energy to be sent to Mumbai and all major bulk consumption centres. Eight foreign banks sponsored the USD 1.5 billion capital expenditure, in addition to AGEL.
- Green distribution infrastructure, with a capital expenditure of about USD 3 billion supported by a combination of a USD 2 billion Global Medium Term Note programme and internal resources of AEML, including a capex programme to provide higher reliability of power in Mumbai.
This totals up to USD 6.3 billion previously invested in Mumbai’s greening of its electricity mix.
Additionally, AGEL recently completed the acquisition of SB Energy, an Indian 5 GW renewable portfolio, for US$3.5 billion in capital expenditure.
The Adani Group also made USD 2.5 billion in investments in the green hydrogen ecosystem. Of the USD 70 billion it promised to spend on green technology over 10 years, it has already invested USD 12.3 billion through the utilities portfolio.
Through Adani Green Energy Limited (AGEL), Adani has made one of its most important inroads into environmentally friendly growth. One of India’s largest renewable energy firms, Adani Green Energy Limited is leading the country’s transition to renewable energy production.
The company creates utility-scale grid-connected solar and wind projects and owns, manages and operates them. With a diverse portfolio of solar and wind energy projects, AGEL has become India’s largest renewable energy company. These initiatives have greatly decreased the nation’s environmental impact and are helping India meet its goals on renewable energy.
The electricity generated is provided to federal, state, and government-owned enterprises. Adani Green Energy is on course to surpass all other renewable energy companies by 2030, supporting India’s goals for renewable energy.
With the manufacturing of metallurgical grade silicon, polysilicon, ingots, wafers, cells, and modules, along with ancillaries like glass, EVA, back sheet, aluminum frames, and junction boxes in Mundra, Adani Solar is creating the first fully integrated and comprehensive ecosystem of Solar PV manufacturing in the world.
From 1.2 GW to 1.5 GW in 2019, 2 GW in 2021, and 4.5 GW in 2023, the company has continually been India’s first, largest, and most reputable vertically integrated Solar PV cell and module maker.
Adani, a company firmly rooted in nation-building, has actively spearheaded the technology-intensive manufacturing industry with its cutting-edge companies housed in one of Mundra’s largest electronics manufacturing clusters that covers an area of about 800 acres. Adani assists India’s move to a more sustainable and clean economy.
Onshore and offshore wind energy projects by Adani have expanded India’s green energy portfolio. These initiatives effectively use wind energy and generate significant clean electricity. They design, create, acquire, run, and uphold utility-scale grid-connected renewable farm projects and make money by selling electricity to federal, state, and government-backed businesses.
They continually assess the potential of the wind resources across the country to create wind projects. Many wind masts have been installed throughout the country’s abundant resource regions.
Sustainability at the core
Adani’s drive towards sustainability goes beyond just producing energy. Sustainability has been incorporated into the Group’s fundamental business procedures.
Innovations driven by technology have reduced the carbon footprint and also improved operational efficiency. It implemented super-critical technology at the Mundra thermal power plant, which earned project certification for Clean Development Mechanism (CDM) from the United Nations Framework Convention on Climate Change (UNFCCC).
Similarly, Adani was an early adopter of surface mining equipment combined with water spraying, which helped control dust pollution. Diesel-powered RTG cranes at its ports were replaced with electricity. The Group reduced its carbon footprint by using power to run tugs. Renewable energy sources currently provide 2% of captive power needs, but that percentage is anticipated to rise dramatically.
Adani’s experience with green growth is a wonderful example of how responsibility for the environment and economic prosperity can coexist. India’s attempts to switch to sustainable energy sources are greatly aided by the Group’s initiatives, which Adani Green Energy Limited (AGEL) spearheaded.
Adani’s dedication to clean energy, sustainability, and ethical business practices is a success story and a model for other businesses worldwide of what can be accomplished when businesses give green growth top priority. Adani’s leadership in seizing India’s green growth potential is an encouraging model for the business world and beyond as nations pursue their journeys toward a better tomorrow.