Ambuja Cements Ltd, managed by billionaire Gautam Adani, mentioned it can make investments 60 billion rupees ($723 million) to construct 1,000 megawatt of renewable energy initiatives because the Indian conglomerate seeks to maneuver quickly towards its web zero objectives.
The Mumbai-based cement maker, which the Adani Groupacquired from Holcim Ltd final 12 months, might be funding this funding by way of inner accruals, it mentioned in an change submitting Monday.Ambuja is focusing on utilizing inexperienced vitality for 60% of its 140 million ton deliberate capability a 12 months, up from the present 19%, it added.
The initiatives embody a 600 MW solar energy and 150 MW wind energy plant within the western state of Gujarat in India and a 250 MW photo voltaic plant in neighboring Rajasthan by March 2026, in line with the submitting, on high of the present 84 MW of inexperienced vitality capability in Ambuja Cements. It’ll cut back the price of inexperienced vitality era by 20% from 6.46 rupees per kilowatt-hour, to five.16 rupees per kWh and improve the availability of inexperienced cement.
The sprawling conglomerate led by Adani, Asia’s second-richest particular person, plans to speculate $100 billion in its inexperienced vitality transition over the following decade, with 5 of its companies aiming to turn into web zero emitters by 2050. Adani and billionaire Mukesh Ambani — each constructed their fortunes on fossil fuels — have emerged as champions of renewable vitality, bolstering Indian Prime Minister Narendra Modi’s mission to decarbonize India and make it carbon impartial by 2070.
Apart from Ambuja Cements, group companies Adani Inexperienced Power Ltd, Adani Power Options Ltd, Adani Ports & Particular Financial Zone Ltd and ACC Ltd have set a 2050 carbon web zero goal, the conglomerate mentioned in a press release final week.
Its companies had been “actively sourcing renewables, electrifying operations and adopting biofuels, and deploying waste warmth restoration and vitality storage applied sciences” to hurry up the transition, it mentioned.
The Mumbai-based cement maker, which the Adani Groupacquired from Holcim Ltd final 12 months, might be funding this funding by way of inner accruals, it mentioned in an change submitting Monday.Ambuja is focusing on utilizing inexperienced vitality for 60% of its 140 million ton deliberate capability a 12 months, up from the present 19%, it added.
The initiatives embody a 600 MW solar energy and 150 MW wind energy plant within the western state of Gujarat in India and a 250 MW photo voltaic plant in neighboring Rajasthan by March 2026, in line with the submitting, on high of the present 84 MW of inexperienced vitality capability in Ambuja Cements. It’ll cut back the price of inexperienced vitality era by 20% from 6.46 rupees per kilowatt-hour, to five.16 rupees per kWh and improve the availability of inexperienced cement.
The sprawling conglomerate led by Adani, Asia’s second-richest particular person, plans to speculate $100 billion in its inexperienced vitality transition over the following decade, with 5 of its companies aiming to turn into web zero emitters by 2050. Adani and billionaire Mukesh Ambani — each constructed their fortunes on fossil fuels — have emerged as champions of renewable vitality, bolstering Indian Prime Minister Narendra Modi’s mission to decarbonize India and make it carbon impartial by 2070.
Apart from Ambuja Cements, group companies Adani Inexperienced Power Ltd, Adani Power Options Ltd, Adani Ports & Particular Financial Zone Ltd and ACC Ltd have set a 2050 carbon web zero goal, the conglomerate mentioned in a press release final week.
Its companies had been “actively sourcing renewables, electrifying operations and adopting biofuels, and deploying waste warmth restoration and vitality storage applied sciences” to hurry up the transition, it mentioned.
