Adani Energy, Adani Green To Join Utilities For Net Zero Alliance Goals

Gautam Adani's renewable energy and power transmission firms will join Utilities for Net Zero Alliance (UNEZA), to aid India’s decarbonisation march. Adani Green Energy Ltd. and Adani Energy Solutions Ltd. will together accelerate the adoption of renewables, it said in an exchange filing on Tuesday.

UNEZA was established at COP28, with the adoption of the UAE Declaration of Action. The alliance aims to unite leading global utilities and power companies to promote clean energy solutions, and advance electrification efforts.

Adani Group's renewable energy company and its transmission and distribution company have become the first in their respective segments in India to join this global alliance, the statement said.

As a member of UNEZA, AGEL will focus on areas like buildout of clean power, enhancement of energy security and improvement of energy efficiency. AESL will redouble its efforts towards developing a reliable grid infrastructure for green energy transmission and distribution, the statement said.

Both AGEL and AESL aim to achieve Net Zero by 2050, it said.

“Joining the utilities for net zero alliance, gives an opportunity to collaborate with global peers on advancing the sustainability goals, drive innovation and accelerate the clean energy transition," Sagar Adani, executive director, AGEL said.

Adani Green Energy plans to increase its renewable energy portfolio from the current operational capacity of 11.2 GW to 50 GW by 2030. Meanwhile, Adani Energy Solutions has set a target to increase the share of renewables in bulk power purchase to 70% by 2030.

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