Adani Green Energy strategizes substantial investments to amplify renewable energy capacities, aiming for 45 GW by 2030, with a primary focus on the Khavda project in Gujarat. Adani New Industries also seeks significant expansion in manufacturing capabilities.
At a media event on Saturday, Adani Green Energy Ltd’s head, Vneet Jaain, announced plans to invest approximately ₹1.5 trillion by 2030 in constructing the world’s largest renewable energy facility, boasting a 30-gigawatt capacity, situated at the Khavda renewable energy park in Gujarat.
As part of Adani Group’s flagship renewable energy initiative to reach 45 gigawatts (GW) of installed renewable energy capacity by 2030, the project will entail the development of 26 GW of solar and 4 GW of wind generation capacity.
At present, Adani Green Energy Ltd possesses an operational renewable portfolio totaling 10.93 GW, comprising 7.39 GW of solar, 1.4 GW of wind, and 2.14 GW of hybrid energy spread across 12 states.
Jaain, Adani Green Energy Ltd’s managing director, disclosed to the media that the company has successfully launched 2 GW of solar capacity at the park, with plans to install an additional 4 GW during the current financial year (FY25), predominantly focusing on solar.
“This fiscal year, our agenda includes adding approximately 4 GW in Khavda, with 2 GW already in operation. This would amount to 6 GW by March 2025. Subsequently, our yearly strategy entails setting up approximately 5 GW. Additionally, apart from Khavda, we also have plans for installations in various regions across the country,” he said.
The Adani project aims to transform Khavda into the largest renewable energy park nationwide, boasting a combined capacity of approximately 45 GW. Joining Adani are other developers like state-owned NTPC and Gujarat Industries Power Company (GIPC). Presently, Bhadla Solar Park in Rajasthan holds the title of India’s largest renewable energy park, with a capacity of 2.24 GW.
Jaain detailed the financing plan for the project, outlining the complete capital expenditure, internal accruals, equity requirements, and strategies to address any potential shortfalls. This includes the process for securing domestic loans and External Commercial Borrowings (ECBs) over the next 7-8 years, aiming to achieve the target of 45 GW.
Jaain stated that the average installation cost for solar capacity stands at approximately ₹4.5-4.6 crore per megawatt (MW), while for wind, it amounts to around ₹6.5 crore per MW.
Adani Green Energy Ltd’s project, spanning 538 sq. km of barren land in Kutch, commenced power generation in February. Jaain, also a director at Adani New Industries Limited (ANIL), overseeing the manufacturing of renewable energy components, indicated that the investment in solar module and related products, as well as wind turbines, would exceed ₹30,000 crore in the upcoming four years.
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