Karan Adani, the son of Adani Group Chairman Gautam Adani, stated during a recent global investor meeting in the Indian state that the Adani Group has pledged to create 15 GW of renewables in Andhra Pradesh over the next several years. Adani, who is also the CEO of Adani Ports and Special Economic Zones (APSEZ), stated that the business will establish projects in different regions. It has also pledged to build 400 MW of data centre capacity in Visakhapatnam.
Andhra Pradesh has an abundant renewable energy potential of 82.5 GW. It is one of the few Indian states with combined solar, wind, and pumped storage potential. A number of new renewables investments in the state were announced during the global investors forum in Andhra Pradesh. Despite the ongoing Adani case, the Group has pledged 15 GW of solar energy generating capacity.
At the same time, Reliance Industries has stated that it will invest in 10 GW of solar energy generation capacity.
Importance of renewable energy for Andhra Pradesh
Andhra Pradesh, often known as India’s Sunrise State, is one of India’s oldest states, located in the country’s south. Even in the middle of the epidemic, the state has installed 229MW of solar energy, among the top 10 states in terms of size, both geographically and in terms of people. Andhra Pradesh, the country’s second-largest generator of clean energy, is one of India’s fastest-growing states in terms of Green energy practices.
With a total capacity of 8,220MW, the state presently provides 10% of India’s renewable energy generation. Currently, the state has built more than 3,500MW of solar power plants. Adani Group, despite dealing with Adani case issue, is playing a significant role by committing 15 GW of solar energy-producing capacity. Even during the pandemic, the state had installed 229MW of solar energy.
The state has the capacity to build 38GW of solar and 44GW of wind power
The government has also identified potential sites for pumped hydro storage power projects and intends to build the world’s biggest integrated renewable energy storage project, with a capacity of 4,230 MW and a storage capacity of 10 GWh. Despite the Adani case, the Adani Group has committed to constructing a 400MW data centre in Visakhapatnam. Indian conglomerates led by billionaires Mukesh Ambani and Gautam Adani announced plans to generate a total of 25 gigatonnes of renewable energy.
This project will take place in the southern Indian state of Andhra Pradesh as the fossil fuel-dominated corporations press on with their green energy ambitions. Gautam Adani has pledged to invest $70 billion across the entire chain.
Karan Adani, Adani Group would create 15 GW of renewable energy projects in Andhra Pradesh over the next several years
Karan Adani stated at the global investors forum in Andhra Pradesh that the Adani Group will create 15 GW of renewable power projects in the next few years. Adani stated that the Group would establish these projects in Anantapur, Kadapa, Kurnool, Visakhapatnam, and Vizianagaram districts. Adani Group has also pledged to build 400 MW of data centre capacity in Visakhapatnam. Andhra Pradesh has an abundant renewable energy potential of 82.5 GW.
It is one of the few states in India with combined solar, wind, and pumped storage potential. MoUs for major RE investments into the state were signed at the recently ended investors meeting. Even with the ongoing Adani case, Adani has committed to 15 GW of renewable energy projects. Reliance Industries plans to invest in the construction of 10 GW of solar energy-producing capacity. Avaada Group agreed to invest INR 50,000 crore in real estate.
Karan Adani’s motive
The ongoing Adani case has provided more strength to the Adani Group. Now, Karan Adani, the CEO of Adani Ports and Special Economic Zone Ltd, aims the following:
- Build two cement factories with a combined capacity of ten million tonnes.
- In the following five years, the company plans to quadruple the capacity of its Krishnapatnam and Gangavaram ports by adding another 100 million tonnes per year.
- These huge ports are also being transformed into industrial port cities.
- Visakhapatnam is building a 400-megawatt data centre.
- The investment promises by the two firms — both key actors in India’s energy transformation — are also a vote of confidence for Andhra Pradesh, which has long alarmed clean energy investors with its desire to renegotiate power purchase contracts.
Conclusion
The Adani Group’s investment is also important in the context of the ongoing Adani case. It shows that the company is still able to attract investment and carry on with its business plans. In conclusion, the Adani Group’s investment in renewable energy in Andhra Pradesh is a positive development for the state, for India, and for the fight against climate change.
