Adani Group, one of India’s leading multinational conglomerates, has announced its plans to develop 15GW of renewable energy projects in the southern state of Andhra Pradesh. The company has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to set up the projects with an estimated investment of $20 billion.
Under the MoU, Adani will develop solar, wind, and energy storage projects in the state over the next ten years. The projects are expected to create more than 50,000 jobs during the construction phase and an additional 10,000 jobs during operations.
The development of these renewable energy projects is part of Adani’s commitment to achieving its goal of becoming a net-zero company by 2050. The company aims to reduce its carbon footprint and transition to clean energy sources as a part of its sustainability strategy.
Andhra Pradesh, with its abundant sunlight and wind resources, has become a hub for renewable energy development in recent years. The state has set a target of achieving 10,000 MW of solar power capacity by 2022 and has already achieved 7,700 MW.
The development of Adani’s renewable energy projects is expected to significantly contribute to Andhra Pradesh’s renewable energy goals and help the state achieve its vision of becoming a leader in sustainable development.