Adani Group Aims To Become World’s Largest Solar Power Company By 2025
Adani Group is aiming to become the world’s largest solar power company by 2025 and the biggest renewable energy firm by 2030, according to its founder chairman.
In a LinkedIn post, Gautam Adani said the age of renewable energy has dawned upon the world faster than most could have anticipated. "Our vision is to become the world's largest solar power company by 2025 and the largest renewable power company by 2030," he wrote.
In 2019, Adani Group was ranked as the sixth largest solar company globally and as a part of this journey, "we are well within reach to be India's largest renewable energy company by 2020 and one of the top three global solar energy companies by 2021".
"Our existing portfolio of renewable power generating assets stands today at over 2.5 GW. This is expected to more than double by 2020, with the implementation of 2.9 GW under-construction capacity and further record three-fold growth touching 18 GW by 2025. To make this happen we have committed to investing over 70% of our budgeted capex of the energy vertical into clean energy and energy-efficient systems," he said.
Earlier this month, Adani Green Energy Ltd.—in association with the Maharashtra State Electricity Distribution Co.—commissioned a 75 MW power project at 2.85 per unit for a period of 25 years. The company recently expanded its renewable energy portfolio by acquiring wind and solar power assets of Inox Wind Ltd. and Essel Group, respectively.
On Wednesday, Adani Green Energy shares fell 2.30 percent to Rs 197.60 apiece on the NSE while the benchmark Nifty 50 shed 0.52 percent to end the day at 12,106.90 points.