Adani sets-up ANIL for new energy business

India’s top billionaire Gautam Adani's logistics-to-energy conglomerate has set up a new subsidiary and named it ‘ANIL’. The new subsidiary will undertake green hydrogen projects, generation of low carbon electricity and manufacture of wind turbines, solar modules and batteries as it looks to become the world's largest renewable energy company and produce the cheapest hydrogen. 
Adani had in November last year stated that his group will invest USD 70 billion in the new energy space of the next decade.
 The new company ANIL will undertake business of developing and operating projects for the synthesis of low carbon fuels and chemicals, generation of low carbon electricity and the manufacture of key components/material for projects including generation of green hydrogen, related downstream products, electricity generation, manufacture of wind turbines.
 India’s Adani Group already is the world's largest solar power developer. At COP 26 in Glasgow, Prime Minister Narendra Modi announced 2070 as India's target year to reach net-zero carbon emissions. Adani as well as the richest Indian, Mukesh Ambani have announced ambitious plans to fulfill this announcement.