Gautam Adani is committing $20 billion over 10 years towards clean energy rivalling fellow billionaire Mukesh Ambani's $10 billion bet over the next 4 years.
Speaking at the JP Morgan India Investor Summit Gautam Adani said, "Over 75% of Adani’s capital expenditure until 2025 is in green technologies". Adani Group also plans to triple its renewable power generation capacity over the next four years to 63% of its total portfolio from 21% now. By 2030, the group aims to power all data centres with renewable energy and make its ports net carbon zero by 2025.
This announcement comes just 3 months after India's richest man Mukesh Ambani announced to shareholders that the Reliance Group will set up a renewables energy ecosystem in Jamnagar, Gujarat with a focus on affordable hydrogen production. Green hydrogen, used as fuel in industry and automobiles, has little or no carbon emissions.