Adani Green Leads Mumbai's Renewable Energy Push As Financial Capital Clocks 30% Consumption From Renewables
In the fiscal 2024, Adani Energy Solutions Ltd. has increased its renewable energy share in bulk power purchase to 34.51% from 3% in FY21.
India's financial capital Mumbai has become the first mega city with over 30% of its power consumption coming from renewables. A key cog in achieving this milestone has been laid by Adani Green Energy and Adani Energy Solutions, which have worked closely to achieve this.
Moreover, Adani Electricity, which is the leading power distribution company in Mumbai, has targeted to double this by 2027, i.e. procure 60% of energy requirement from renewable energy.
In the financial year 2023-24, Adani Green Energy Ltd. has added an additional greenfield capacity of 2.8 gigawatt, denoting an addition of 15% of India’s total renewable energy capacity while it avoided a 15.64 million ton of carbon dioxide emission. Adani Green has also achieved its 12.21% target against 65% of electric vehicle commitment by fiscal 2030, the company said in an investor presentation.
Adani Green in financial year 2024 also provided 3477 direct/indirect job opportunities along with engaging 91% of its manufacturing suppliers under CDP supply chain management program.
In the fiscal 2024, Adani Energy Solutions Ltd., the transmission arm of Adani group, has increased its renewable energy share in bulk power purchase to 34.51% from 3% in FY21.
3.362-megawatt solar capacity is available at Mahendragarh, Akola, Koradi, Sami, Morena, Rajnandgaon substations and further continuing to meet its power requirements. The company reduced 78% of hazardous waste in FY 24, it said.
Adani Energy has received a 'Stable Outlook' rating from multiple reputed agencies
In 2022, Adani Energy had received ‘D’ for its CDP climate change score, because of focused efforts and initiatives. The scores improved to ‘B’ in 2023 along with securing a solid ‘B’ for its first CDP water stewardship score and CDP supply chain engagement score of ‘B”.
Adani Enterprise Ltd. has achieved a 24% reduction in emission intensity through its airport business while the airport business used 57% electricity from its renewable energy sources and 10% of energy consumption was from its renewable energy sources for Adani solar manufacturing.
The mining service of the company achieved 19% reduction in water consumption while it delivered a 9% reduction in emission intensity and in the fiscal 2024, the mining services also planted 3.28 lakh trees.
