Adani Group may invest more than $88 billion into renewable energy and cement in Rajasthan: Report

Four new cement plants will be built for an additional capacity of 6 million tonnes per annum along with the world's biggest integrated green energy ecosystem

Published on: Dec 9, 2024, 18:07:30 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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The Adani Group may invest more than ₹7.5 trillion ($88.53 billion) into renewable energy and cement in Rajasthan, news agency Reuters reported, citing Karan Adani, managing director of Adani Ports.

More than 50% of these investments will be made over the next five years (AFP)

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More than 50% of these investments will be made over the next five years, the report quoted Karan Adani as having said while speaking at an investment summit in the state.

As part of the investments, four new cement plants will be built for an additional capacity of 6 million tonnes per annum.

Apart from this, the group is also planning to build the world's biggest integrated green energy ecosystem involving 100 gigawatts (GW) of renewable energy.

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This is the first major announcement by the group after US authorities accused the group's Chairman Gautam Adani as well as some other top executives of being part of a $265 million bribery scheme to secure green energy contracts.

The group has denied the allegations, calling the charges “baseless.”

That came with the group having previously committed to investing $100 billion in renewable energy, valuing their green energy business up to $160 billion.

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For this reason, Adani Green Energy Ltd is building an energy park in Gujarat with a 50 GW production capacity which it expects to complete by 2030.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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