Adani Group to invest $100 billion in data centres and alternative energy

• ByStartupStory     |    September 27, 2022

The ports-to-energy conglomerate Adani Group will construct three gigafactories to produce solar cells, wind turbines, and hydrogen electrolysers, along with 45 gigawatts of additional capacity for hybrid renewable power generation.

Chairman Gautam Adani announced on Tuesday that the Adani Group will invest $100 billion over the following ten years, mostly in new energy and the digital sector, which includes data centres. The group is placing significant bets on India’s economic story.

According to Adani, the second-richest person in the world, as much as 70% of this investment will be made in the field of energy transformation. The ports-to-energy conglomerate will construct three gigafactories to produce solar cells, wind turbines, and hydrogen electrolysers in addition to 45 gigawatts of new hybrid renewable power generation capacity.

“In the upcoming ten years, we will collectively invest more than $100 billion in the capital. 70% of this investment has been set aside for the energy transition domain “At the Forbes Global CEO conference in Singapore, Adani made a statement.

The 60-year-old mogul, who started with a small commodities business in 1988, recently eclipsed Amazon CEO Jeff Bezos, French billionaire Bernard Arnault, and American businessman Bill Gates to become the second-wealthiest person in the world with a fortune of $143 billion.

The overall market capitalization of the group’s listed enterprises, which have holdings in seaports, airports, green energy, cement, and data centres, is $260 billion. The company is already the biggest solar player in the world.

“As a group, we will invest over $100 billion in the It will also construct three giga factories: a 10 GW integrated wind-turbine manufacturing facility, a 5 GW hydrogen electrolyser factory, and a 10 GW silicon-based photovoltaic value-chain that will be backwards-integrated from raw silicon to solar panels.

“Today, we can confidently state that we have a line of sight to first become one of the least expensive producers of the green electron, and thereafter the least expensive producer of green hydrogen,” Gautam Adani said.

According to him, the digital sector aims to gain from the proximity of the energy transformation.”The Indian data centre market is expanding rapidly. Since this industry uses more energy than any other in the world, our decision to develop green data centres is a strategic differentiation that will change the competitive landscape.”

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