Adani Green Energy Ltd will invest Rs 1.5 lakh crore to boost capacity to 30 gigawatts (GW) at its Khavda renewable energy project site in Kutch, Gujarat, over the next five years, Managing Director Vneet Jaain told reporters after a site visit.
Billionaire Gautam Adani aims to build the world’s largest renewable energy project, spanning 538 sq km of barren land in Khavda, almost the size of Mumbai. Within a year of beginning work, the company has initiated operations for 2GW of the total 30GW planned for the project.
Besides the Rs 1.5 lakh crore on expansion of Khavda project, Adani Green will invest another Rs 50,000 crore on renewable energy projects totalling 6-7 GW in other locations by 2030. The group’s equipment manufacturing arm, Adani New Industries will invest Rs 30,000 crore, taking Adani Group’s total investment to Rs 2.3 lakh crore.