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Ports-to-Power conglomerate led by the world's third richest man, Adani Group has announced that it would be setting up 3 Giga factories as part of its clean energy investment of $70 billion.
"The Adani Group has already committed USD 70 billion (for climate change and green energy). This will see us building three Giga factories in India leading to one of the world's most integrated green-energy value chains," he said after receiving the USIBC Global Leadership Award here. These Giga factories will extend from polysilicon to solar modules, complete manufacturing of wind turbines, and the manufacturing of hydrogen electrolyzers," Asia's richest man, Gautam Adani, said.
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As is evident from his statement, these factories will be used to build solar modules, wind turbines, and hydrogen electrolyzers as part of the Group's $70 billion investment in clean energy by 2030. These factories will assist in the generation of an additional 45 GW of renewable energy on top of the Group's current 20 GW capacity as well as produce 3 million tons of hydrogen by 2030.
Mr. Adani also listed out the imperatives for the US-India engagement. He said that the GDP of both nations would reach a total of $70 trillion, which would be 35-40% of the global economy.
This announcement comes less than 2 weeks after Mukesh Ambani, Chairman of Reliance Industries, announced the setup of a Giga factory for power electronics.
The Adani Group has 2 power companies whose stocks are listed on the bourses. Adani Power & Adani Green Energy currently trade at around Rs 398 & Rs 2,328.95 per share respectively.
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