Adani Group to build Giga factories as part of $70 bn investment in clean energy by 2030

Asia’s richest man Gautam Adani, a ports-to-power conglomerate will build three Giga factories for manufacturing solar modules, wind turbines, and hydrogen electrolyzers as part of a USD 70 billion investment in clean energy by 2030. Adani group is stepping up investments across the green energy value chain as it aims to become the world’s top renewable energy producer by 2030.

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Key points:

• The new giga factory for power electronics will be in addition to four giga factories announced last year for making integrated solar PV modules that will produce electricity from sunlight, electrolyzers that produce hydrogen from water, fuel cells and batteries to store energy from the grid as well as 20 GW solar energy capacity by 2025 for captive needs.
• Listing out imperatives for US-India engagement, Adani said the combined value of the GDP of the two nations in 2050 is expected to be a staggering USD 70 trillion dollars or 35-40 per cent of the global economy. By that year, the combined population of the two countries will be over 2 billion with a median age of less than 40 years as compared to the already median age of 44 in Europe and 40 in China.

Important takeaways for all competitive exams:

• Adani Group Headquarters: Ahmedabad;
• Adani Group Founder: Gautam Adani;
• Adani Group Founded: 1988.

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