New Delhi (Business Emerge), October 10: India’s Adani Group is positioning itself as a global leader in renewable energy by planning to construct 10 gigawatts (GW) of hydroelectric power projects internationally in the coming years, as revealed by four anonymous sources. This move aligns with the conglomerate’s broader vision of achieving net zero carbon emissions by 2050.
The energy giant, led by billionaire Gautam Adani, had earlier outlined its $100 billion investment plan to develop green energy technologies, including creating the world’s largest solar park in western India. Adani Group’s diverse portfolio extends from agribusiness to cement, but its focus on renewable energy is a key component of its growth strategy.
Talks for potential hydroelectric ventures are underway in countries such as Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam, according to sources familiar with the discussions. The company is drawn to regions where the topography supports hydropower and the demand for clean energy is on the rise. Though much of its current effort is directed towards pumped hydro storage projects within India, Adani Group is eyeing international markets with promising opportunities.
Through its renewable energy subsidiary, Adani Green Energy, the conglomerate operates 11.2 GW of clean energy projects and has ambitious plans to increase this figure to 50 GW by 2030, according to its corporate website. The company is engaged in talks with both government entities and private stakeholders in multiple countries to explore the feasibility of these projects.
In a significant development earlier this year, Adani signed an agreement with the government of Bhutan to construct a 570 MW hydropower plant in the Chhukha province, marking its first major international hydropower endeavor. Despite several inquiries, Adani Group has yet to issue any formal comments on the latest expansion plans.