GG News Bureau
Jaipur, 8th Oct. Gautam Adani, Asia’s richest man, announced a Rs 65,000 crore investment in Rajasthan over the next 5 to 7 years to build a mega 10,000 MW solar power plant, expand a cement plant, and upgrade Jaipur airport.
The investment by Adani’s ports-to-energy conglomerate includes city gas infrastructure for retailing CNG to automobiles and piped gas to households and industries, as well as the construction of transmission lines to carry renewable energy.
He stated at the Invest Rajasthan 2022 Summit here that the Adani group already has a significant presence in the state. It runs a thermal power plant, has a solar park, and supplies coal to the state’s power plants.
Adani Group is investing Rs 50,000 crore to increase renewable power generation capacity by 10,000 megawatts.
“This will be commissioned progressively over the next five years,” he said, adding that the group had just completed commercial operation of the world’s largest wind-solar hybrid power plant in Rajasthan a week before.
Furthermore, following the acquisitions of Ambuja Cements and ACC, it intends to more than double its cement manufacturing capacity.
“While we already have three cement plants and limestone mining assets, a significant part of our capacity expansion will continue to happen in Rajasthan. We anticipate investing another Rs 7,000 crore to double our cement manufacturing capacity in the state,” he said.
The Group is also the operator of Jaipur airport which will be expanded, he said.
Adani would also build a network to supply piped natural gas and compressed natural gas to industrial, commercial, transportation, and residential customers, as well as new transmission projects to move the renewable energy generated.
“Combining all ongoing and future investments, we anticipate investing an additional Rs 65,000 crore in Rajasthan over the next 5 to 7 years and creating over 40,000 direct and indirect jobs,” he said.
Adani told reporters after the Invest Rajasthan summit’s inaugural ceremony, ” “Along with this, while speaking to CM Gehlot, two proposals were approved. One for contributing for two medical colleges, particularly where there are no medical colleges and the other for cricket stadium in Udaipur.”
The Adani Group, which began as a commodity trader in 1988 and has since quickly expanded into ports, airports, roads, power, renewable energy, transmission, gas distribution, real estate, FMCG, cement, data centers, and media, is also making one of the world’s largest bets on energy transition.
It intends to build capacity for producing green hydrogen, a fuel that can power both automobiles and factories. It aims to split water using renewable energy to produce green hydrogen.
Adani stated that the company is betting on green hydrogen because of its ability to generate the most affordable solar and wind power. “I believe this opportunity to generate green hydrogen to transform Rajasthan’s deserts into ‘an oasis of jobs enabling energy transition’ is an opportunity that no other state has,” he said.
His company has already invested over Rs 35,000 crore in Rajasthan’s various industrial sectors.
These investments include a 1,320 MW Kawai power plant and a 10,000 MW solar park that generates 1,500 MW of green power. Furthermore, it has invested Rs 20,000 crore in the commissioning of over 4,000 MW of renewable energy projects.
The Adani Group provides coal to over 4,300 MW of state thermal power plants.
It also runs high-voltage transmission lines, a container terminal in Kishangarh, and two edible oil plants in Alwar and Bundi.
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