Adani to invest about $70 bn in green energy value chain
Hyderabad: Adani Group over the next decade will invest over $20 billion in renewable energy generation and the overall organic and inorganic investments across the entire green energy value chain will range between $50 and 70 billion, said Gautam Adani in his keynote address at TiE Sustainability Summit 2021 (TSS- 2021) on Monday. This will […]
Hyderabad: Adani Group over the next decade will invest over $20 billion in renewable energy generation and the overall organic and inorganic investments across the entire green energy value chain will range between $50 and 70 billion, said Gautam Adani in his keynote address at TiE Sustainability Summit 2021 (TSS- 2021) on Monday.
This will include investments with potential partners for electrolyser manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms.
He said, “We are confident that our integrated value chain, our scale, and experience put us on the road to be the producer of the least expensive green electron anywhere in the world. This advantage opens several new pathways for us including setting us up to be one of the largest green hydrogen producers in the world, thereby opening up additional possibilities to be a partner of choice for several other industrial businesses.”
“I also believe the convergence of sustainability and digitisation will establish new disruptive business models that will create the next set of unicorns. This is where organisations like TiE become essential — they enable collaboration across entrepreneurs and investors who see opportunities wherever intersections and friction exist. And the only way we can reduce the friction that sustainability generates in today’s businesses is through the intersection with technology.”
However, as always, it is the “combination” or “intersection” of technologies that creates disruptive business models. “The combination which I believe is a game changing model for sustainability is that of solar generation and hydrogen production! It is fascinating that a photon can travel 90 million miles in 9 minutes to hit a piece of silicon on Earth. This in turn generates an electron to split an H2O molecule leading to the release of a proton — or what we call a Hydrogen atom — and now seen as the ultimate source of dense green energy,” he added.
Hydrogen is the trigger for the smarter use of other renewables by becoming the long-term transport and distributed storage solution for electricity. It is the key link in the energy transition journey that, along with wind and solar, will stabilise decentralised power generation.
For India, decentralised power generation can be a massive game changer — especially for the rural population. Decentralised power allows us to improve grid resiliency and micro size “everything”. It enables micro-manufacturing, micro-agriculture, micro-healthcare, micro-education — everything that India’s rural population today needs for empowerment and job creation.
Convergence of technology
As technologies evolve rapidly, these opportunities will equate to trillions of dollars of investments. These will include next generation high efficiency solar panels, low carbon materials that make the largest offshore wind turbines affordable, mainstreaming of carbon capture technologies, various fit-for-purpose battery technologies, algorithm-driven smarter and distributed grids, electric mobility, and hydrogen related technologies.
Of all these technologies, today, solar is the fastest growing source of power. Over the past decade, the price of solar panels has dropped by 90 per cent and possibly over the next decade we will see price drops of the same magnitude as panels become even more efficient and new materials come into play. The fact is that the marginal cost of solar power is moving towards “zero” and this is both transformative and disruptive.
What makes all of this even more exciting is the intersection of sustainable energy with the advances in digital technologies. This technology-driven energy transition will disrupt existing industries and at the same time create new ones. Artificial intelligence is now an inevitable universal accelerator.
He said, “We live in a world where the convergence of powerful and inexpensive computing and the ability to collect massive amounts of data is fast, making AI a “General Purpose Technology” that will make a tremendous difference to sustainability. Be it the design of distributed grids that enable optimizing the energy sources feeding the grid or being able to design systems that are self-healing, or allowing the micro-sizing of energy — the possibilities are limitless. India, through the sheer strength of its supply and demand for energy will be among nations best placed to benefit.”
“While these scenarios emerge, the Adani Group is not sitting still. We are tripling our solar power generation capacity over the next four years. This is a rate of growth currently unmatched by any other company anywhere on the planet. Our Renewables Portfolio has reached the initial target of 25GW a full four years ahead of schedule. Today, we are already the world’s largest solar power player. This puts us well on track to be the world’s largest renewable power generating company by 2030,” Adani added.
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