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Adani Group, Google collaborates to advance clean energy goals in India | Mint

Livemint

Livemint · 9m ago

Adani Group, Google collaborates to advance clean energy goals in India | Mint

- Adani Group and Google have formed a partnership to promote sustainability and expand clean energy initiatives in India. - Adani will offer renewable energy from a new solar-wind hybrid project in Khavda, Gujarat, which is set to start operating in Q3 2025. - Adani aims to provide tailored renewable energy solutions for commercial and industrial (C&I) clients, helping them meet their energy demands and reduce carbon emissions. - The collaboration supports Google's goal of achieving 24/7 carbon-free energy by ensuring its cloud operations in India run on clean energy. - Adani Group plans to focus on the commercial and merchant sectors to drive the decarbonization of industries in India.

Related News

Adani Group to invest $100 bn over five years in clean energy sector

Economic Times

Economic Times · 22d ago

Adani Group to invest $100 bn over five years in clean energy sector

The Adani Group plans to invest $100 billion over the next five years in the clean energy sector, aiming to achieve a 100 GW energy generation capacity by 2030. The plan includes 31 GW from Adani Power and 45 GW from Adani Green Energy in renewable energy. Additionally, the Group is undertaking a significant urban rehabilitation project in Dharavi and advancing its ports, airports, and solar manufacturing projects, reinforcing its commitment to India's infrastructure development.

Gail, AM Green forge 350 KTPA e-methanol deal to drive clean energy growth | Mint

Livemint

Livemint · 9m ago

Gail, AM Green forge 350 KTPA e-methanol deal to drive clean energy growth | Mint

- Gail (India) Ltd and AM Green Group have joined forces to develop clean energy projects and supply 350 KTPA of carbon dioxide for e-methanol production. - The partnership aims to advance India's green energy transition and decarbonization efforts. - E-methanol, produced through the combination of green hydrogen and captured carbon dioxide, is a sustainable fuel that reduces carbon emissions in industries like shipping, steel, and cement. - The companies are also exploring solar and wind hybrid renewable projects of up to 2.5 GW across India, ensuring round-the-clock power supply. - Gail will supply the carbon dioxide from its gas processing plants, contributing to a circular economy and promoting sustainable energy solutions.

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

Economic Times

Economic Times · 13d ago

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

IFC, part of the World Bank Group, has committed Rs 460 crore to develop India's largest standalone battery energy storage system in Gujarat through IndiGrid. This project, which supports Gujarat's clean energy goals and aims for 100 GW of renewable capacity by 2030, will enhance grid stability and provide reliable power during peak demand. The financing includes $38.5 million from IFC and $16.5 million from the Clean Technology Fund. This initiative is crucial for India's clean energy transition.

Gautam Adani has a new $5 billion business idea in mind | Company Business News

Livemint

Livemint · 8m ago

Gautam Adani has a new $5 billion business idea in mind | Company Business News

The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.

Promoters pump Rs 23,000 crore in 5 Adani Group companies in June quarter

Money Control

Money Control · 12m ago

Promoters pump Rs 23,000 crore in 5 Adani Group companies in June quarter

Promoters of five Adani Group firms, namely Adani Energy Solutions, Adani Enterprises, Ambuja Cement, Adani Power, and Adani Green Energy, increased their holdings by over Rs 23,000 crore in the June quarter, according to the latest shareholding data. Promoters of Ambuja Cement raised their stake by 3.59 percentage points, while Adani Green Energy saw its promoter holding increase by 1.15 percentage points. In contrast, foreign investors significantly reduced their holdings in several Adani Group companies during the same quarter. Adani Ports and SEZ, however, saw a slight increase in foreign institutional investor stake.

US probing Adani Group over potential bribery, company denies foul

Livemint

Livemint · 1y ago

US probing Adani Group over potential bribery, company denies foul

US prosecutors are reportedly expanding their investigation into India's Adani Group, with a focus on potential bribery and the conduct of founder Gautam Adani. The investigation is examining whether an Adani entity or individuals associated with the company paid officials in India for preferential treatment on an energy project. It also extends to Indian renewable energy firm Azure Power Global Ltd. Adani Group denies knowledge of any investigation against its chairman and affirms compliance with anti-corruption laws. The investigation follows allegations of stock price manipulation and accounting fraud made by Hindenburg Research last year.

Gautam Adani’s succession plan: Sons Karan and Jeet, nephews Pranav and Sagar to be in saddle; all about the 4 heirs | Mint

Livemint

Livemint · 11m ago

Gautam Adani’s succession plan: Sons Karan and Jeet, nephews Pranav and Sagar to be in saddle; all about the 4 heirs | Mint

Gautam Adani, India's second richest man, discussed his retirement plans and business successors in an interview with Bloomberg. Adani plans to step down from the business at the age of 70. He is the Founder and Chairman of the Adani Group, while his brother Rajesh Adani is the Managing Director. Adani's sons Karan and Jeet, as well as his nephews Pranav and Sagar, are named heirs through a family trust. Pranav Adani handles consumer businesses, Karan Adani is in charge of Adani Ports and SEZ, Sagar Adani oversees Adani Green Energy, and Jeet Adani leads Adani Digital Labs.

Adani Green Energy appoints Saurabh Shah as new CFO | Mint

Livemint

Livemint · 10m ago

Adani Green Energy appoints Saurabh Shah as new CFO | Mint

Deputy CFO Saurabh Shah will replace Phuntsok Wangyal as the CFO of Adani Green Energy in India, effective September 30.

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

VCCircle

VCCircle · 2m ago

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

Hexa Climate Solutions, supported by I Squared Capital, acquired Fortum's India renewables arm, including a 206 MW renewables portfolio and a 600 MW project pipeline. The acquisition, although undisclosed in value, reinforces India's renewable energy goals. Hexa plans to invest $500 million to expand its clean energy platforms across the country and emerging markets. This transaction marks Fortum's exit from India, aligning with its strategy to concentrate on its home market.

Adani unveils $213 billion succession plan as scrutiny persists | Mint

Livemint

Livemint · 11m ago

Adani unveils $213 billion succession plan as scrutiny persists | Mint

In an interview, Gautam Adani, Asia's second-richest man, outlined his retirement and succession plans for the first time. The Adani Group plans to transfer leadership gradually to the next generation, which includes Adani's sons and nephews. The conglomerate's businesses, which span various sectors from infrastructure to energy, will be jointly managed by the younger generation. However, questions and challenges surrounding the conglomerate's controversies, such as investor concerns and a US Department of Justice bribery investigation, remain. The transition of power is seen as a significant event for both the Adani family and India's economy.

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