Adani Group Drives Green Energy Transition with USD 100 Billion Investment

In a groundbreaking move towards sustainability, Adani Group unveiled substantial progress in its decarbonization journey through its recently published half-yearly ESG compendium. 

Positioned at the forefront of India's green energy revolution, the conglomerate is steadfast in its commitment to achieving net-zero status by 2050 or earlier for five key portfolio companies — Adani Green Energy, Adani Energy Solutions (AESL), Adani Ports and SEZ, ACC, and Ambuja Cements.

A significant aspect of Adani's strategy involves active initiatives such as sourcing renewables, electrifying operations, adopting biofuels, and deploying cutting-edge waste heat recovery and energy storage technologies. To propel this agenda, the portfolio companies are set to invest a staggering $100 billion over the next decade.

ESG highlights for H1 FY24

Adani Electricity Mumbai, a subsidiary of Adani Energy Solutions, has increased its renewable energy share in the overall mix to an impressive 38.3 percent, positioning Mumbai as the leading procurer of RE amongst all megacities. This was made possible by the collaboration between portfolio companies Adani Energy Solutions and Adani Green Energy.

Adani Energy Solutions received an impressive score of 86 percent from CSRHUB, a leading ESG global performance rating agency. With this, AESL’s score surpassed the Electric and Gas Utilities industry average of 911 companies.

Adani Green Energy is the highest-rated utility company in the world as per Sustainalytics. In the first half of the financial year, the renewable power company achieved zero waste to landfill for all operational sites and turned net water positive at all sites of 200 MW or more.

Adani Ports, which owns 15 ports and logistics business, is well on track to turn net zero by 2040. In the first half of FY24, it achieved a 15 percent share of renewables in the total energy mix, reduced energy intensity by 46 percent, energy emission by 48 percent, and water consumption intensity by 59 percent.

Adani Enterprises is building three giga-factories with a target to develop 10 GW of solar panels, 10 GW wind turbines, and 5 GW hydrogen electrolyzers as part of its low-cost integrated green hydrogen project. For solar module manufacturing, the glass factory is completed, with work commencing on the ingot and wafer plant. In October, the company commenced production of India’s largest wind turbine of 5.2 MW.

ESG Innovations Propel Adani's Leadership

Adani Power has strategically partnered with IHI Corporation and Kowa company to explore ammonia co-firing at the Adani Power Mundra plant. This initiative aims not only to decarbonize Adani's coal-fired plants but also to set a broader precedent for the technology's implementation across various coal-fired plants in India.

Furthermore, Adani Enterprises entered into a groundbreaking agreement with Ashok Leyland and Ballard Power. Together, they will develop a hydrogen Fuel Cell Electric Truck (FCET) for mining logistics and transportation. This endeavor positions Adani as the first in Asia and one of the few globally to operate green hydrogen-powered mining trucks.