The Indian conglomerate Adani Group plans to spend INR2,300bn (US$27.6bn) through 2030 to expand its renewable power generation and double its solar and wind manufacturing capacity. Specifically, its renewable affiliate Adani Green Energy Ltd (AGEL) is expected to invest INR1,500bn (US$18bn) to increase wind and solar capacity at Khavda in Gujarat's Kutch from 2 GW to 30 GW (+28 GW). In addition, the company intends to develop 6-7 GW of wind and solar elsewhere in the country for an investment of INR500bn (US$6bn). AGEL is targeting 45 GW of renewable energy capacity by 2030, including 30 GW at Khavda. The Adani Group’s subsidiary currently has an operating capacity of 10.9 GW, including 7.4 GW of solar, 2.1 GW of wind-solar hybrid and 1.4 GW of wind.
Earlier this year, in March 2024, AGEL commissioned 1 GW of solar capacity at its Khavda Renewable Energy Park, which is set to become one of the largest renewable energy installation in the world. Once completed, the project should be able to generate 81 TWh/year of electricity. India has set one of the most ambitious renewable capacity targets in the world with 344 GW expected in FY2027 (including large hydro), and 569 GW in FY2032 according to the NEP 2022.
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