Investors - SEPTEMBER 9, 2022

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The Adani Group to establish 3 gigafactories in India, plans to spend $70b on renewables

by Kali Persall

The Adani Group plans to set up three gigafactories in India in a move to establish one of the world’s most integrated green energy value chains, according to various news sources.

The gigafactories will extend from polysilicon to solar modules, complete manufacturing of wind turbines, and the manufacturing of hydrogen electrolyzers.

According to Mint, this is part of a commitment to invest $70 billion in green energy and related businesses. The gigafactories and planned investments will generate an additional 45 gigawatts of renewable energy to add to the group’s existing 20-gigawatt capacity and 3 million tonnes of hydrogen.

“This value chain will be fully indigenous and aligned with the geopolitical needs of our nation,” said Gautam Adani, chairman and founder of the Adani Group. “However, I believe we can further accelerate our goals with support from companies in the U.S. that are willing to work with us.”

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