Adani Group to Spend INR 80,000 Crores in Recent Investments

Adani Group to Spend INR 80,000 Crores in Recent Investments
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Monday, June 17, 2024

The conglomerate will be able to ensure that its business operations are running properly. It will also be able to recover from the losses that it suffered during the Adani CBI Investigation.

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Introduction

The Gautam Adani-led global conglomerate, Adani Group, plans to spend over INR 80,000 crores across its various businesses in the current financial year. The conglomerate has interests spanning multiple business sectors like renewable energy, ports, airports, and data centres.

With this new investment, it can expand its hold further over the various business sectors. The conglomerate will be able to ensure that its business operations are running properly. It will also be able to recover from the losses that it suffered during the Adani CBI Investigation.

A Brief Overview of the Spending

The Deputy Chief Financial Officer of Adani Enterprises, Saurabh Shah, said most of the capital expenditure will be spent on the Adani Group’s new energy businesses through Adani New Industries Limited (ANIL) and airports. Over INR 50,000 crores will be invested in this business sector.

ANIL, a newly formed subsidiary of Adani Enterprises, mainly focuses on making solar modules for the conglomerate’s renewable energy sector. The solar modules convert sunlight into green hydrogen and electricity.

A third of the total expense would be spent on the Ganga Expressway, which is around INR 12,000 crore, and the rest will be put on various other businesses run by the Adani Group. The Adani Group is currently starting its new PVC project. So, the business group plans to allocate a capex of around INR 10,000 crores to the PVC business. Around INR 5,000 crores will also be spent on the data centre business. 

Spending on the Renewable Energy Sector

The Adani Group aims to produce 10 GW solar modules and 3 GW wind turbines. This will increase renewable energy capacity, which will also easily fulfil our renewable energy needs for FY26. Substantial capex will be allocated to the initial requirements for setting up the green hydrogen business, once again bringing about a smooth transition to renewable energy. Green hydrogen will also be available to us at a lower cost. 

The Adani Group has already started commercial production of ingots and wafers for solar modules and solar cells at its factory in Gujarat. It plans to manufacture polysilicon by 2027-28. This will make the Adani Group the biggest integrated renewable energy player in India and build its reputation as one of the most reliable renewable energy companies on a global scale. 

Currently, the Adani Group is using imported polysilicon to make ingots that are being converted into thin sheets called wafers. These wafers are used to produce solar power cells. The conglomerate plans to build a local manufacturing capacity in India itself. This will end our dependence on other countries like China to meet the demand for polysilicon. 

The Adani Group also plans to generate 45 GW of renewable power by 2030. Two-thirds of the power will come from the Khavda Renewable Energy Park in Gujarat.

Other investments

After the Hindenburg report, the Adani Group’s PVC project at Mundra was kept on hold. However, the project operations were revived in 2023. It is estimated to require a total investment of INR 27,000 crore. As per the latest news, a consortium of banks led by SBI will fund 60% of the project. This investment will allow the Adani Group to rise above the controversies of the Adani CBI investigation.

The firm has always been driven to use technology while carrying out its business operations. With this new investment in the data centre segment, it will further be able to trigger its data centre operations. New data centres will also be set up in some crucial countries, leading to increased growth and prosperity in the technological sector.

Adani Rebounds: Q3 Profits Up 130% After Hindenburg Saga

Adani Enterprises currently operates seven airports in India and is in the process of constructing a new greenfield airport in Navi Mumbai. The airport will start operations by the end of FY25. The new airport will bring about a huge jump in passenger traffic and gradually reduce the load on the Mumbai Airport. The Adani Group also has elaborate plans for various other growing sectors, and each of these investments will significantly contribute.

Conclusion

In this way, despite the ongoing controversies surrounding the Adani CBI investigation, the Adani Group will continue investing in India’s growth sectors. This will allow us to pave the path towards growth and prosperity and lead us towards a better future.

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