Adani Announces Three Gigafactories as Part of $70 Billion Investment

The Chairman and Founder of Adani Group, Gautam Adani has said that his company, Adani Group, will be investing in the construction of three giga-factories that will manufacture key equipment required for the expansion of renewable energy. The three gigafactories will be part of the $ 70 billion investment by the group in clean and green energy by 2030. The announcement comes even as Jash Energy, another Adani backed firm has started production of solar trackers at a 3 GW plant in Mundhra, in association with one of the leading players, Arctech, from China.

The planned gigafactories will be manufacturing polysilicon, solar modules, wind turbines, and electrolyzers for green hydrogen.

Gautam Adani stated after receiving the USIBC Global Leadership Award, “The Adani Group has already committed $70 billion. This will see us building three giga factories in India leading to one of the world’s most integrated green-energy value chains.”

The new manufacturing facilities are expected to produce 45 GW of more renewable energy and also three million tons of hydrogen by the end of this decade. The Adani Group presently has a capacity of 20 GW of renewable energy.

Adani-Ambani Focus on RE

Recently, Mukesh Ambani had also announced in Reliance’s 45th Annual General Meeting (AGM), about the plan to build a gigafactory for power electronics for manufacturing affordable and reliable power electronics to strengthen the Green Energy value chain.

With work on other gigafactories, especially those for solar modules already proceeding, the intent of some of India’s largest corporate groups is finally converting to changes on the ground. It has to be said however that the Reliance focus, at least till 2025, seems more on developing and consuming for internal consumption, as the 20 GW project target for 2025 indicates.

In August, Adani Solar – Adani Group’s solar PV manufacturing and EPC arm – announced the expansion of its retail distribution business for Maharashtra. With this, Adani Solar claimed, it has extended its reach to more than 2,500 towns for the distribution of solar panels in India.