The Adani Group will invest a total of $100 billion over the next ten years as it transitions to using green energy, with five of its group companies aiming to be net zero on carbon emissions by 2050.
The Ahmedabad-based conglomerate, which has a presence in ports, energy, cement and power among others has also pledged to plant 100 million trees by 2030, the company said in a statement today.
Adani Green Energy, Adani Energy Solutions, Adani Ports and Special Economic Zone, ACC and Ambuja Cements haver targeted being free of carbon emission by 2050. India’s target of becoming net-zero for carbon emissions is 2070.
“The portfolio businesses are actively sourcing renewables, electrifying operations and adopting biofuels, and deploying waste heat recovery and energy storage technologies,” the company said in a statement.
Some of the group’s initiatives include the development of a hydrogen fuel cell electric truck, and the development of a green hydrogen ecosystem in Gujarat.
“To make green hydrogen adoption feasible, Adani’s track record in largescale renewables and fully integrated manufacturing with end-to-end EPC capability — all in one single location — uniquely positions it to lower costs,” it said.
The company is in a pact with Ashok Leyland and Ballard Power to develop a hydrogen fuel cell electric truck for logistics and transportation in mining, the launch of which is scheduled this year.
