Adani Group, an Indian multinational conglomerate has committed to invest a total of $70 billion by 2030 across its green energy value chain to become the world’s largest renewable energy producer and leader in green data storage, with data centers running entirely on clean power.
According to reports, Adani would confront numerous challenges in powering data centers as they require a 24×7 power supply. Adani must invest in renewable energy storage or find other sources of power to maintain an uninterrupted power supply.
Adani Green Energy Ltd (AGEL), the world’s largest solar power developer, also plans to build 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to build a 2 gigawatt-per-year solar manufacturing capacity by 2022-23.
Gautam Adani Chairman & Founder Adani Group
“It is inevitable that massive data center infrastructure will become the largest energy-consuming industry to ever exist. As India exponentially expands its clean energy capacity at one of the lowest costs, it will make us the greenest choice to a warehouse not just India’s but perhaps much of the world’s data.”
Mr. Adani forecasts a booming demand for data centers as ultra-speedy 5G services, quantum computing, and cloud storage applications expand. Digital transactions also got a massive boost during COVID-19. India is becoming a hub for providing data storage services to global firms such as Amazon and Google amid a rapid surge in smartphone usage and cheap mobile data tariffs.
Adani Group’s solar energy portfolio is rapidly expanding, and the company’s ports arm intends to be carbon neutral by 2025. In 2021, Adani companies raised nearly $1.1 billion in green and sustainability-linked dollar bonds, as well as $1.35 billion in offshore loans, making them India’s largest issuers of Environmental, Social, and Governance (ESG) debt.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
