Gautam Adani shareholders’ meeting: Today Gautam Adani addressed the shareholders in the Annual General Meeting. Adani said his ports-to-energy conglomerate has never slowed or walked away from making investments in India as the group’s growth is aligned with the country’s growth story.
Highlighting that India’s renewable energy capacity increased almost 300 per cent since 2015, Adani announced that they will be investing $70 billion to aid the country’s green transition. The past year saw 125 per cent increase in capital investment in renewables compared to 2020-21, he added.
Gautam Adani, Chairman of the Adani Group, addressed the shareholders in the Annual General Meeting today. Indian billionaire industrialist and philanthropist Gautam Adani said the group is investing $70 billion in a new energy business that will transform India from a net importer of oil to an exporter of green hydrogen.
“An incurable optimist” Adani stated that the conglomerate owns a major global renewable energy portfolio and the group’s strength in renewables will empower us enormously in the effort to make green energy the fuel of the future.
“I see real drive in youth to reclaim our economic stature,” the fourth wealthiest person in the world said in his address to shareholders at the company’s annual general meeting (AGM) on Tuesday.
Highlighting that India’s renewable energy capacity increased almost 300 per cent since 2015, Adani said that the past year saw 125 per cent increase in capital investment in renewables compared to 2020-21. Over 75% per cent of surging incremental demand India needs is expected to be met via addition of renewable energy generation, he added.
“While we’ve been lectured on climate change, we’ve been one of the very few countries that accelerated its renewable energy footprint despite Covid and energy crisis. We’ve done so at a time when several developed nations paused their pursuit of renewable energy goals,” the Adani Group chairman said.
Gautam Adani said that India has made a giant leap in renewable energy. I have full faith in India’s growth rate. I believe that there is no other country to match the pace of India’s development. He said that we have never slowed down or stopped investment in India and now we are spending US $ 70 billion in new energy business.
Gautam Adani said that right now India is the world’s biggest oil and gas importer, but I assure you that very soon India will become the largest country to export clean energy to the world.
Along with this further said that I have full faith in the citizens of my country, who will maintain the growth momentum of India and this will help in taking the Adani Group forward. Gautam Adani said that we will continue to expand our business outside India. This year also the group will start business in many countries of the world.
He mentioned that while we have been lectured on climate change, we are one of the very few countries that have accelerated their renewable energy footprint despite the pandemic and the energy crisis. Adani said that we have done this at a time when many developed countries have stopped the pursuit of renewable energy targets.
He also noted that India’s capacity for renewable energy has increased by nearly 300 percent since 2015. Adani Group’s expertise in renewable energy will greatly aid us in our endeavor to make green energy the fuel of the future. He claimed that the Adani Group is at the fore in the race to make India less dependent on oil and gas exports and one day become a net exporter of clean energy.
By the end of 2022-2023, Adani Transmission expects to increase the share of renewable energy purchases from 3% to 30% and then to 70% by 2029-2030. The Adani Group chairman said he never slowed down or shied away from investing in India, as the group’s growth was aligned with that of the country.
The billionaire industrialist also revealed that the ports-to-power conglomerate has now become the largest airport operator in India. We are engaged in the adjacent businesses of developing aerotropolis and creating localised community based economic centers, Adani noted.
In June, Adani Group and energy supermajor TotalEnergies of France entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, TotalEnergies will acquire 25 per cent minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL), the group said.
The new partnership, centered on green hydrogen, is expected to transform the energy landscape both in India and globally.
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