Adani Group To Invest $70 Billion In Green Energy, Infra: Highlights

Adani Group chairman Gautam Adani on Tuesday said the company would invest $70 billion in green energy transition and infrastructure projects to become a net exporter of clean energy.

Adani Group To Invest $70 Billion In Green Energy, Infra: Highlights

"Our combined group market capitalization this year exceeded $200 billion," Mr Adani said.

New Delhi:

Adani Group chairman Gautam Adani on Tuesday said the company would invest $70 billion in green energy transition and infrastructure projects to become a net exporter of clean energy. "The success of the Adani Group is based on its alignment with the India growth story, and it is my strong conviction that there is no other nation that is as well positioned as India. The best evidence which showcased our confidence and belief in the future - is our investment of $70 billion in facilitating India's green transition," Mr Adani said at the annual shareholders' meeting of Adani Enterprises, the flagship company of the group.

Here Are The Highlights From His Speech:

* "India's renewable energy capacity has increased almost 300 per cent since 2015. In fact, the past year saw an astonishing 125 per cent increase in capital investment in renewables compared to 20-21. There is no stopping India now as over 75 per cent of the surging incremental demand that India needs is expected to be met through the addition of renewable energy generation."

* "The year 2021-22 was another breakout year for the Adani Group."

"Never ever have we walked away from investing in India, never have we slowed our investments."

"While we now hold a major global renewable energies portfolio, we have made also remarkable progress in several other industries over the past 12 months. In one stroke, we have become the largest airport operator in India. Around these airports that we operate today, we are engaged in the adjacent businesses of developing 'aero-tro-polises' and creating localised community-based economic centres."

"Our successful IPO (initial public offering) of Adani Wilmar makes us the largest FMCG company in the country. And following the acquisition of Holcim's assets in India which include two of the most recognised brand names across the country – ACC and Ambuja Cements – we are now the second largest cement manufacturer in India. This is a classic example of our adjacency-based business model at work."

"Our combined group market capitalization this year exceeded $200 billion."

"Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26 per cent. Portfolio EBITDA stood at Rs 42,623 crore. This diversified growth in FY22 was reflected across our range of businesses. Our utility portfolio grew by 26 per cent, our transport and logistics portfolio grew by 19 per cent, our FMCG portfolio grew by 34 per cent, and Adani Enterprises Limited, our incubator business, grew by 45 per cent."

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