A word from Adani Group Chairman Gautum Adani: October 2021
I am often asked about the Adani Group’s timeline for becoming net zero. The Adani Group, in multiple global forums, has committed to investing 70% of its energy-related capital expenditure in green technologies. This will specifically amount to $50 to $70 billion of investment in renewable value chains over the next decade.
We are already the world’s largest solar power developer. Over 90% of our generation and contracted capacity of 25GW have been inked since our public declaration of intent at Davos in January 2020. We are doing everything that is needed to produce the world’s cheapest green electron within the next decade, to make the production of green hydrogen so inexpensive that we do our part to help India become a net exporter of green energy.
Even the world’s most advanced economies cannot meet the burden of their energy needs through green sources alone. And lest we forget, while India currently contributes less than 7% of global greenhouse gas emissions, we make up over 17% of the world’s population.
India will soon have the biggest and youngest middle class in human history. We need the reliable supply of electricity that enables small businesses to flourish, that gives us access to primary healthcare, and to the education and information necessary to improve our economic prospects and better our quality of life. This base lays the foundation for sustainability.
The fact that India and Australia can partner together to help create this change by using Australia’s high-quality coal alongside renewable energy is a wonderful opportunity and something that the thousands of people who have worked to construct our almost-complete Carmichael Project in Central Queensland are immensely and rightly proud of.