Adani Green Energy Ltd is planning to infuse Rs 1.5 lakh crore into Khavda renewable energy project site in Kutch, Gujarat to expand its capacity to 30 gigawatts (GW) within the next five years. With this, the company aims to build the world’s largest renewable energy project, according to a Money control report.
The company is aiming to construct the world’s largest renewable energy project, covering 538 square kilometers of barren land in Khavda, almost the size of Mumbai.
Within just one year of starting, the company has already initiated operations for 2GW out of the total 30GW planned for the project, Adani Green’s Managing Director, Vneet Jaain stated during a media interaction on Saturday.
The Adani project will make Khavda the nation’s largest renewable energy park, boosting a capacity of about 45 GW. Among the participants in the park are state-owned NTPC and Gujarat Industries Power Company (GIPC). Currently, the biggest renewable energy park in India is Bhadla Solar Park in Rajasthan, boosting a capacity of 2.24 GW.
As of April 8th, the stocks of Adani Green Energy Ltd (AGEL) was trading at Rs 1,925.00 a piece. Its renewable energy portfolio totals 10.93 GW, including 7.39 GW solar, 1.4 GW wind, and 2.14 GW hybrid energy, across 12 states in India.
This fiscal year, the company plans to add 4 GW to its Khavda portfolio, with 2 GW already operational. This would bring the total capacity to 6 GW by March 2025. Following this, the company plans to add approximately 5 GW annually thereafter.
Additionally, Adani Green plans to invest Rs 50,000 crore more in renewable projects, adding 6-7 GW capacity by 2030. Adani New Industries will inject Rs 30,000 crore, raising the group’s total investment to Rs 2.3 lakh crore.
Apart from Adani, many big companies are diving into renewable energy. Reliance Industries has also announced a significant increase in its investment in renewable energy, reaching an impressive Rs 1.5 trillion. ONGC aims to achieve a renewable energy capacity of 10 GW by 2030, with a Rs 1 trillion investment.
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