Adani group to set up 3 giga factories as part of $70bn green push

Wednesday 14th September 2022 06:54 EDT

Gautam Adani led Adani group will build three giga factories for manufacturing solar modules, wind turbines, and hydrogen electrolysers as part of a $70 billion investment in clean energy by 2030. The Adani group is stepping up investments across the green energy value chain as it aims to become the world’s top renewable energy producer by 2030.

These giga factories will “extend from polysilicon to solar modules, complete manufacturing of wind turbines, and the manufacturing of hydrogen electrolyzers,” Adani said, adding, this, will generate an additional 45 GW of renewable energy to add to Adani group’s existing 20 GW capacity, as well as 3 million tons of hydrogen by 2030.

The announcement comes weeks after rival billionaire Mukesh Ambani announced a fifth giga factory as part of investment in low carbon energy.

The new giga factory for power electronics will be in addition to four giga factories announced last year for making integrated solar PV modules that will produce electricity from sunlight, electrolyzers that produce hydrogen from water, fuel cells and batteries to store energy from the grid as well as 20 GW solar energy capacity by 2025 for captive needs.

Listing out imperatives for US-India engagement, Adani said the combined value of the GDP of the two nations in 2050 is expected to be a staggering $70 trillion dollars or 35-40% of the global economy.

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