As India grapples with climate change, the Adani Group, whose operations also span ports, power, farming, and defense manufacturing, announced plans to invest $70 billion in solar, wind and other green energy projects over the next decade.
Adani’s businesses have won multibillion dollar contracts to build ports, highways, and power plants. The industrialist’s ambitions include developing drones and ammunition, key to the government’s goal of boosting military-related exports to $5 billion while slashing costs for expensive imports.
Adani has capitalized on Indian government incentives promoting self-reliance and achieving net zero by 2070, recently receiving nearly $90 million in government subsidies to produce solar modules.
Adani recently announced plans to build a 10-gigawatt clean energy project in Morocco that will help meet Europe’s energy needs.
The Adani Group began exporting coal from Australia’s Carmichael mine after years of disputes with environmental groups. The project 300 kilometers (185 miles) west of the Queensland coast includes a rail line for shipping coal from the Galilee Basin to countries in Asia, including India.
Energy-hungry Bangladesh will soon start receiving a share of its electricity from an Adani coal-fired plant under construction in eastern India.
Adani recently announced plans to invest more than $4 billion in a petrochemicals complex that will include an ethane cracker and a plant that will convert natural gas into plastics.