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The Adani Group has said it will invest $50-70 billion, including $20 billion in renewable energy generation and investments with potential partners, over the next few years.
Addressing the inaugural of the The Indus Entrepreneurs Sustainability Summit virtually on Monday, Adani Group Chairman Gautam Adani has said that the investments, to be made over the next decade, would be part of the organic and inorganic growth plans of the group.
He said the group’s renewable energy portfolio had reached the initial target of 25 GW, four years ahead of the schedule.
“We are tripling our solar power generation capacity over the next four years, with a growth rate unmatched by any other company in the world,” he said.
Over 40,000 social enterprises, investors, policymakers and other stakeholders in the sustainability ecosystem, have registered for the three-day summit being organised by TiE.
A huge opportunity
Stating that renewable energy landscape offered a huge opportunity for entrepreneurs, he said technologies such as artificial intelligence and cloud platforms, will play a huge role in disrupting existing business models in the energy space.
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He said that the next of unicorns would emerge at the intersection of sustainability and digital technologies.
Stating that Covid was an eye-opener for the world to understand the power of a sudden crisis, he said the world’s response to such a devastating crisis would have been terrible, had technologies not come to the rescue.
Decentralised power
He said the advances in the energy space meant a lot for countries like India. “A decentralised power generation system can be a massive game-changer, especially for the rural population. Decentralised power allows us to find solutions such as micro agriculture, micro healthcare and micro education, empowering rural population,” he said.
Stating that the world needed immediate solutions to mitigate the impact of climate change, he said that the social impact of climate change was irreversible.