Adani groups logistic-to-energy conglomerate has set up a new subsidiary. Adani New Industries Ltd (ANIL) is the name of new subsidiary. ANIL will undertake projects of green hydrogen, generate low carbon electricity and manufacture wind turbines, solar modules and batteries.
The subsidiary aims to be world’s largest renewable energy company and produce the cheapest hydrogen. In November 2021, Adani announced the invest of USD 70 million in new energy project. These projections are for the next 10-year time span.
Now, Adani New Industries Ltd (ANIL) has been incorporated to take business of developing and operating projects for the synthesis of low carbon fuels and chemicals, generating low carbon electricity and key components/material for projects including generation of green hydrogen.
ANIL will also manufacture solar modules, batteries, electrolyzes and undertake all such activities associated with ancillary industries. Adani Group have already shared the ambitious plan of 45GW by 2030 and 2GW of solar manufacturing capacity by 2022-23.
At COP 26 in Glasgow, Prime Minister Narendra Modi announced 2070 as India’s target year to reach net-zero carbon emissions.
India also announced a slew of other, more ambitious, climate targets for 2030: increasing the share of renewables in the country’s energy mix to 50 per cent; expanding installed capacity of non-fossil energy from 450 to 500 GW. And reducing the carbon intensity of the economy by 45 per cent. This number was as opposed to the previous goal of 33-35 per cent.
Subsequent to that, Adani has made a slew of acquisitions to get the technology and capability to generate green hydrogen, manufacture solar modules and make batteries.