Adani AGM 2024: Gautam Adani Identifies Sectors To Unlock $1 Trillion Value
Gautam Adani emphasised on embracing renewable energy value chain in his AGM address.
India is unlocking markets in energy and digital sectors that can unlock $1-trillion of yet-to-be tapped value over the next decade, billionaire Gautam Adani said during the 32nd annual general meeting of Adani Enterprises Ltd. on Monday.
The chairman of the ports-to-power conglomerate emphasised on embracing renewable energy value chain in his address to the shareholders.
In May, Adani Green Energy Ltd. had secured $400 million in financing for its under-construction 750-megawatt solar projects in Rajasthan and Gujarat, from a group of five leading international banks. The company, along with Adani Energy Solutions Ltd., saw Mumbai become the first mega city with over 30% of its power consumption coming from renewables.
The group also recently operationalised a 30 GW single-site renewable energy park in Gujarat's Khavda. This project alone will boost the group's total renewable energy capacity to 50 GW by 2030.
In his speech, Adani also touched upon green data centres required to power the artificial intelligence data centre boom.
(Source: Adani Green Energy website)
Electricity supply to power-guzzling data centres has become a concern, with rising popularity of AI and related platforms. The Adani Group plans to invest over $100 billion in the energy transition sector in the next decade, further expanding its integrated renewable energy value chain, Adani had said in a recent keynote address at a Crisil event.
AI data centres will need 100 GW to 150 GW by 2030, he said. The Adani Group, which holds India's largest order book for data centres, is uniquely positioned to deliver these gigawatt-scale green AI data centres, Adani had said.
He also talked about electrification of mobility and EV revolution for cleaner air.
In April, Adani TotalEnergies E-Mobility Ltd., a wholly owned subsidiary of Adani Total Gas Ltd., and MG Motor India signed a Memorandum of Understanding to strengthen the electric vehicle charging infrastructure in India. Under the collaboration, ATEL will set up CC2 60 kW DC chargers at upcoming MG Motor dealerships to bolster the charging network and enhance customer accessibility.
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