Adani Group set to become power and data center king with $100 billion investment

The Adani Group led by Gautam Adani, which has been one of the country’s leading business groups over the years, plans to invest over $100 billion in the renewable energy and digital segment over the next decade. . Gautam Adani, the second richest person in the world, said the group was confident of rapid growth in the country. In digital, the group intends to focus on data centers.

Adani said about 70% of this investment will be in renewable energy. Adani Group, involved in the energy port business, will add 45 GW of renewable energy generation. At the same time, three large factories will be set up for the manufacture of solar panels, wind turbines and hydrogen electrolysers. Adani “As a group, we will invest over $100 billion over the next decade. About 70% of this amount will be in the renewable energy segment,” said at the Forbes Global CEO Conference in Singapore.

Adani started with a small commodity business. The activity of his group has multiplied in recent years. Recently, he pulled off the feat of becoming the second richest person in the world with a net worth of around $143 billion, surpassing Amazon chief Jeff Bezos, French bigwig Bernard Arnault and former chairman of Microsoft Bill Gates. The main reason for the increase in his wealth is the rising prices of oil and natural gas. Share prices of some Adani Group companies have more than doubled this year. Shares of Adani Green Energy and Adani Total Gas trade at more than 750 times earnings. Adani Enterprises and Adani Transmission are valued over 400 times.

from the Adani group Listing The total market capitalization of the companies is around $260 billion. According to Prime Minister Narendra Modi’s long-term economic growth goals for the country, Gautam Adani is pushing his group forward. On the stock market, these efforts by Adani seem to be paying off. The stock prices of some of its companies have risen more than 1,000% in the past two years, while the Sensex has gained almost 44% during this period.

(This story has not been edited by the NDTV team. It was published directly from the Syndicate feed.)

–>

Ramon J. Espinoza