The chairperson of the Adani Group, Gautam Adani, said the company would invest over $100 billion in the next decade. Adani spoke at the 20th Forbes Global CEO conference on Tuesday and said they have earmarked investments for the energy transition space.
We will invest over 100 billion dollars of capital over the next decade, as a group. We have earmarked 70 per cent of this investment for the Energy Transition space. He added that the company is committed to invest $70 billion in an integrated hydrogen-based value chain, and that we are already the world's largest solar player. Adani said that Adani New Industries is the manifestation of the bet that we are making in the energy transition space. In addition to the existing 20 GW renewables portfolio, the new business will be enhanced by another 45 GW of hybrid renewable power generation, spread over 100,000 hectares, which is 1.4 times the size of Singapore.
The Adani Group chief said that the new business will lead to the commercialisation of 3 million metric tons of green energy. They will build 3 giga factories in India. He said during the event, we are building a 10 GW silicon-based photovoltaic value chain that will be backward-integrated from raw silicon to solar panels, a 10 GW integrated wind turbine manufacturing facility and a 5 GW Hydrogen electrolyser factory.
He said that they hope to become one of the few expensive producers of green electron and then of green hydrogen. He said that it was an absolute game changer for India and opens up the possibility that India could become a net energy exporter.
Adani said that India can't do away with fossil fuels, unlike what critics say. While we are on this uniquely ambitious energy transition journey, we are making sure that our goals are equitable with national needs. Critics would have us get rid of all fossil fuel sources that India needs to serve its large population. He said that India accounts for less than 7 per cent of CO 2 emissions, even though it has 16 per cent of the global population.
He spoke about their digital transformation ambitions. Adani said that the Indian Data Center market is witnessing an explosion of growth, but consumes more energy than any other energy. He believes that building green data centres will be a game-changer.
We will connect these data centers through a series of terrestrial and globally linked undersea cables drawn at our ports, and build consumer based super-apps that will bring the hundreds of millions of Adani s B 2 C consumers on a common digital platform. The monetization possibilities are endless once done, he said.
Adani said they have just finished building the world's largest sustainability cloud that has a hundred of their solar and wind sites running on it.
I would like to make a point that India is full of incredible opportunities. India's next three decades will be the most defining years for the impact it will have on the world, he said.