Adani to invest 70 pc of total investments in green energy: Sources

New Delhi [India], March 18 (ANI): The Adani Group is expected to invest more than 70 per cent of its total investments towards green energy, including renewable power, green hydrogen, and green evacuation transmission line, sources said.
The conglomerate is building the world's largest renewable park at Khavda, Gujarat, spanning over 530+ square km area.
According to sources, Adani Group plans to invest USD 14 billion (Rs 1.2 lakh crore) in the 2024-25 financial year through its portfolio of 11 listed companies, in developing the country's infrastructure.
The projected capital expenditure is 40 per cent higher than what it invested in the current financial year 2023-24, which is estimated at USD 10 billion.
India's largest infrastructure conglomerate with showcase projects like Navi Mumbai Airport, Ganga Expressway, the world's largest renewable park at Khavda and Mundra Port has committed a USD 100 billion investment over the next 7-10 years.
This investment is expected to play a pivotal role in transforming India's energy and transportation landscape.
A large portion of total investments is earmarked for expansion and development of its fast-growing airports business and ports business, the sources added.
With a portfolio boasting 8 airports including the upcoming Navi Mumbai airport and 14 domestic ports, Adani Group wants to further solidify its presence in these sectors.
In the December quarter, it reported a record quarterly EBITDA growth of 63.6 per cent year-on-year, taking its twelve-month EBITDA to an all-time high of USD 9.5 billion (Rs 78,823 crore) in calendar year 2023, led by its investments in previous years.
The net debt to EBITDA at the end of September was 2.5x, which is expected to further reduce by the end of 2023-24, due to strong growth.
With higher investments, it is setting the stage for exponential growth in the coming years, a source said.
In a media statement released in February, the group said increasing cashflows and its robust credit profile have set stage for unrivalled 'Green Investment.' (ANI)