Adani To Supply Clean Energy To Google From Solar-Wind Hybrid Project In Gujarat
This new project is expected to start commercial operations in the third quarter of 2025, Adani Group said.
(Adani Group's corporate office building in Ahmedabad. Photo: Vijay Sarpate/NDTV Profit)
Adani Group will supply clean energy to Google from its solar-wind hybrid project located in Gujarat's Khavda. Billionaire Gautam Adani-led group and Google are collaborating to advance the "companies’ collective sustainability goals and adding more clean energy to India’s grid," the group said in a press release.
"Through this partnership, Adani will supply clean energy from a new solar-wind hybrid project located in the world’s largest renewable energy plant at Khavda," it added.
This new project is expected to start commercial operations in the third quarter of 2025, Adani Group said.
"This innovative collaboration will help advance Google’s 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the sustainable growth of Google in India," it said.
The conglomerate further noted that it is well-positioned to provide customised renewable energy solutions to commercial and industrial customers to meet their energy requirements and reduce their carbon footprint.
Going forward, the company plans to increase the focus on merchant and commercial and industrial segments to help decarbonise industries, Adani Group said.
Adani Green Energy Ltd., which is the conglomerate's renewable energy arm, is set to achieve a five-fold increase in its installed capacity to cross the target of 50 GW by fiscal 2030, according to Investec.
The brokerage, in a note issued last month, initiated coverage on Adani Green with a 'buy' rating and a target price of Rs 2,515 per share, implying a potential upside of 30.7% from then market price. This growth trajectory mirrors the company's previous performance, having expanded its capacity five times to approximately 11 GW from fiscal 2019 to fiscal 2024, it said.
Shares of Adani Green were trading 5.62% lower at Rs 1,778.05 apiece on the NSE on Thursday, compared to a 2.13% decline in the benchmark Nifty 50 at 2:08 p.m.
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