Adani green energy, Renewable energy company

Gautam Adani's plans to revamp his business empire into the world's largest renewables player are on a roll.The initiative to tap the green bond market to fund this change is certainly bearing fruit as his ambitious USD 20 billion investment plan gets underway., which takes care of the renewables business, has been very active in the green bond market, raising USD 750 million through the market last September. It will not be the last as Adani reportedly told that the Group would use the market to fund its USD 20 billion investment plan.The USD 20 billion investment plan is part of Adani's bigger game plan to invest across the entire renewable energy chain over the next decade. It includes production and manufacturing processes along with distribution and entails a ginormous sum of USD 70 billion. So far, investments have been made towards the manufacturing of equipment, including electrolysers.The Group is eager to cut down its dependence on fossil fuels, aiming to triple its renewable power generation capacity in the next four years. Currently, the share of renewables in electric generation is 21 percent and is expected to account for almost two-thirds once things fall into place.Adani stated that going green was the logical choice as it opened up new avenues for growth. "Our actions indicate that we are putting our money where our mouth is as over 75 percent of our planned Capex until 2025 will be in green technologies," he quipped, in one of his rare interviews, to Nikkei Asia.Talking about funding for his ambitious project, Adani placed his confidence on green bonds. "Over the process of its development, Adani Green Energy has matured its capital management plan. The organisation has a cycle of funding under-construction assets and then de-risking operational projects through U.S.-dollar green bond refinancing, thereby releasing the credit line for the next set of construction projects", he pointed out.Additional sources include debt raising and equity capital, as well as the Group's internal cash flows. As of the last financial year, the Group companies had accrued USD 4.3 billion (Rs. 323.4 billion) in earnings before interest, taxes, depreciation and amortisation.Adani dismissed any notion of competing with fellow billionaire Mukesh Ambani. Ambani has revealed similar plans to turn his business into a net-zero carbon emitter by 2035. However, Adani maintained that there was enough space for everyone when it came to renewables.However, he asserts that the Adani Group will become the world's largest renewables company in the not-too-distant future. The company achieved its target of 25 GW renewables capacity a full four years ahead of schedule. "This puts us well on track to be the world's largest renewable power generating company by 2030," he declared.This story is provided by PNN.will not be responsible in any way for the content of this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Adani green energy, Latest News

National :Andhra Pradesh Cabinet approves Rs 15000 cr Green Energy Project in state

Andhra Pradesh state cabinet chaired by the Chief Minister YS Jagan Mohan Reddy has approved 42 important proposals including the renaming of Konaseema district as Ambedkar Konaseema district during a meeting on Friday. ...

International :AP govt clears Adani green energy projects worth Rs 15,740 cr

Amaravati, June 22 In a boost to the green energy sector in Andhra Pradesh, Chief Minister Y.S. Jagan ... ...

International :Adani Green shares up 5% as Co becomes 10th largest on BSE

New Delhi, April 12 Shares of Adani Green Energy surged over 5 per cent on an otherwise weak ... ...

International :Shares of Adani Group cos surge after $2 bn foreign investments

New Delhi, April 11 Shares of Adani Green Energy, Adani Transmission, and Adani Enterprises surged on Monday on ... ...

National :Adani Green Energy raises Rs 612.30 cr to refinance debts

Adani Green Energy (AGEL) has raised Rs 612.30 crore through its three subsidiary companies - Adani Green Energy (UP), Prayatna Developers, and Parampujya Solar Energy to refinance existing debts. ...

Business :Green bonds will prop Adani's future green plans

Gautam Adani's plans to revamp his business empire into the world's largest renewables player are on a roll. ...