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Gautam Adani, the third richest person in the world, said in an interview that the Adani group is going to invest $100 billion over the next decade, mostly in the sectors that are engaged in energy transition and digital opportunities, aerospace and defense, metals, and petrochemicals.
Adani group which started in the year 1988 as a commodities trading company has expanded its business portfolio into diversified sectors such as power, airports, renewable energy, gas distribution, and data center. The very recent addition to its portfolio was in the cement sector through a $6.5 billion acquisition of Ambuja Cements and ACC.
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Also, the group has also announced its entry into the alumina and iron ore business with an investment of up to ₹57,575 crore
“As a group, we will invest over $100 billion of capital in the next decade. We have earmarked 70% of this investment for the energy transition space. We are already the world’s largest solar player and intend to do far more. In this context, Adani New Industries is the manifestation of the bet we are making in the energy transition space. It is our commitment to investing $70 billion in an integrated hydrogen-based value chain," Adani said at The Forbes Global CEO Conference 2022 in Singapore.
The group is also building a 10GW silicon-based photo-voltaic value chain that will be backward-integrated from raw silicon to solar panels, a 10GW integrated wind turbine manufacturing facility, and a 5GW hydrogen electrolyzer factory.
“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. It is an absolute game changer for India and opens up the unprecedented possibility that India could one day become a net energy exporter," Adani said.
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