Adani Green, the renewable energy arm of Adani Group, in its board meeting held on July 6, 2023, has approved a plan to raise ₹12,300 crore to finance green energy diversification. Tycoon Group’s renewable energy company will use the funds to diversify its green energy supply in India by selling shares through a qualified institutional placement (QIP).
India plans to produce 5 million tonnes of green hydrogen by 2030 and Adani Green aims to commission 45 GW of renewable energy capacity by 2030. India is the fastest-growing major economy and the most populous country in the world with about 5,000 trillion kWh of solar radiation every year, which is many times more than India’s energy requirement.
Adani Green projects all in a large single cluster around key resource-rich areas such as Jaisalmer in Rajasthan, facilitating attractive economies of scale. Rajasthan has the highest intensity of radiation (6.7 Kwh/m2/day) and some districts of Rajasthan have 142 GW solar power potential.