Thursday, October 21, 2021

Adani Group to invest over $50-70B in renewable energy value chain

Adani Group to invest over $50-70B in renewable energy value chain, commits 70% of planned CAPEX until 2030 to energy transition

Gautam Adani, Chairman of Adani Group says that green policies and climate action not based on equitable growth will struggle in the long run. He suggested that a collaborative approach was needed wherein developed nations, which have emitted more greenhouse gases over time, shoulder greater responsibility and propose policies and targets that fairly address the needs of the developing world.

Adani said that to the business leaders on the side-lines of the UK’s Global Investment Summit at the London Science Museum.

“While net zero targets are much needed, a company’s sustainability initiatives must be aligned with the nation’s sustainability goals,” said Adani. “One must recognize that India has already demonstrated its commitment through the bold stand taken by Prime Minister Narendra Modi since the 2015 COP 21 summit and India has emerged as one of the most responsible major nations in the world when it comes to addressing climate change. However, at the heart of any nation’s sustainability journey lies the principle of equitable growth, and a net zero number unaligned with a nation's development agenda may end up creating greater disequilibrium across the global sustainability initiatives.”

Furthermore, the Adani Group chairman stated that AGEL will triple its renewable power generation capacity over the next four years – a scale and speed unmatched by any company in the world. AGEL is also consolidating its position as the world’s largest solar power developer, having achieved its initial target of 25GW four years ahead of schedule.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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