Adani Green may invest nearly ₹2 lakh cr in renewable energy

Of the total investment plan around ₹50,000 crore is for capacities beyond Khavda totalling around 6-7 GW, a company official said.

The company's current total standing capacity comprises 7,393 MW of solar, 1,401 MW of wind and 2,140 MW of wind-solar hybrid. At the Khavda project, the world's largest renewable energy park, capacity will go up to 6 GW by the end of this fiscal year, Adani Green managing director Vneet Jaain said.

"There are power purchase agreements for power from Khavda for Adani Green and there is a huge captive requirement of renewable power by group companies which Khavda can provide," he added. Adani Green has a market capitalisation of more than ₹ 3 lakh crore.

Equipment Manufacturing
Adani New Industries Ltd, a subsidiary of group flagship , which manufactures solar and wind energy equipment, is planning to spend more than ₹30,000 crore by 2030 to expand capacity. The company is seeking to reach 5 GW of wind turbine manufacturing capacity by FY27 from 1.5 GW currently, said Jaain, who is also a director of this unit.

On the solar modules manufacturing side, the company plans to add 10 GW capacity in the next three and a half years, he said.

Regarding sourcing solar panels and modules from Adani New Industries by Adani Green, Jaain said the arm is a different unit and bears no direct correlation to sourcing for its generation unit.

For some of the renewable energy capacity being developed by Adani Green, the restriction of the approved list of models and manufacturers is not applicable so materials can be sourced from anywhere, he said.

In cases where the restriction is applicable and if in future no foreign companies are allowed, then like others, the company will also source modules locally, he added.