Energy Sources

Billionaire Gautam Adani Building World's Largest Renewable Power Plant

Main image to the post Billionaire Gautam Adani Building World's Largest Renewable Power Plant

Billionaire Gautam Adani and his company, the Adani Group, are currently working on building the world's biggest power plant in Gujarat, India. This ambitious project, led by Gautam's nephew Sagar Adani, emphasizes renewable energy sources as India seeks to transition away from its heavy dependence on fossil fuels. Despite this green energy initiative, the Adani Group's main revenue stream still comes from fossil fuel operations, with a significant portion of its earnings stemming from coal production.

The upcoming power plant is set to be colossal, covering a vast area of approximately 200 square miles, equivalent to the size of Chicago. Adani Green Energy Limited (AGEL), a clean energy division of the Adani Group, is behind the development of this solar and wind power facility situated in a salt desert in Gujarat. This initiative is part of the Adani Group's commitment to investing $70 billion in clean energy by 2030, with a substantial $20 billion allocated to this particular project. The aim is to support India in achieving its renewable energy goals, with a target of sourcing half of its energy from renewable sources by 2030.

Sagar Adani, the executive director of AGEL, highlighted the necessity for India to adopt large-scale green energy projects to combat climate change, emphasizing the country's status as one of the world's largest energy consumers, heavily reliant on coal. Despite India's pledge to achieve net-zero emissions by 2070 and increase renewable energy usage, the Adani Group's significant earnings from fossil fuel operations underscore the complexity of transitioning to a green energy economy.

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May 21, 2023 | 05:09