Adani Group’s Ambuja Cements Announces $723 Million Investment in Green Energy Projects

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In a bold stride towards bolstering its commitment to sustainability, Ambuja Cements Ltd., under the aegis of the Adani Group, revealed plans for a substantial investment of 60 billion rupees ($723 million) in renewable power projects. This move marks a significant leap towards the Adani conglomerate’s ambitious net-zero goals.

Adani Group's Ambuja Cements Announces $723 Million Investment in Green Energy Projects
Adani Group's Ambuja Cements Announces $723 Million Investment in Green Energy Projects

In a bold stride towards bolstering its commitment to sustainability, Ambuja Cements Ltd., under the aegis of the Adani Group, revealed plans for a substantial investment of 60 billion rupees ($723 million) in renewable power projects. This move marks a significant leap towards the Adani conglomerate’s ambitious net-zero goals.

The Mumbai-based cement manufacturer, now under the ownership of the Adani Group following its acquisition from Holcim Ltd. last year, unveiled its strategic initiative to channel internal accruals into building 1,000 megawatts of renewable power projects. This investment underscores Ambuja’s dedication to expanding its reliance on green energy sources, aiming to harness such energy for 60% of its planned annual capacity of 140 million tons, a significant increase from the current 19%.

The outlined projects encompass the establishment of a 600 MW solar power plant and a 150 MW wind power plant in Gujarat, alongside a 250 MW solar facility in neighboring Rajasthan, slated for completion by March 2026. This initiative builds upon Ambuja’s existing green energy capacity of 84 MW. Notably, these ventures aim to curtail the cost of green energy generation by 20%, dropping from 6.46 rupees per kilowatt-hour to 5.16 rupees per kWh, while simultaneously augmenting the supply of green cement.

Under the visionary leadership of Gautam Adani, the conglomerate envisions investing $100 billion in its green energy transition over the next decade. This transformation aligns with the group’s commitment, with five of its key entities aspiring to achieve net-zero emissions by 2050. Adani, along with Mukesh Ambani, both known for their fortunes rooted in fossil fuels, have emerged as staunch advocates for renewable energy. Their efforts complement Prime Minister Narendra Modi’s ambitious mission to decarbonize India and achieve carbon neutrality by 2070.

Apart from Ambuja Cements, various group entities, including Adani Green Energy Ltd., Adani Energy Solutions Ltd., Adani Ports & Special Economic Zone Ltd., and ACC Ltd., have also pledged to attain carbon net-zero status by 2050, as confirmed in a recent conglomerate statement. The group emphasized its proactive approach, actively sourcing renewables, electrifying operations, adopting biofuels, and deploying innovative technologies like waste heat recovery and energy storage to expedite the transition towards sustainability.

The significant investment by Ambuja Cements reaffirms the Adani Group’s unwavering dedication to championing green energy and fostering a transformative shift in India’s industrial landscape towards a sustainable and environmentally conscious future.

Sources By Agencies

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