Adani Group is gearing up to secure between $4 billion and $5 billion for ambitious developments in Khavda and Mundra, Gujarat. This funding initiative, as reported by insiders, aims to bolster the construction of a massive renewable energy hub that could revolutionize the region’s energy landscape.
Major Investment in Renewable Energy
The centerpiece of this initiative is a groundbreaking 30 GW renewable energy park in Khavda, which will be the largest of its kind globally. This expansive project is set to harness the power of 26 GW from solar energy and 4 GW from wind energy, positioning Adani at the forefront of the renewable energy sector.
- Funding Structure: The capital will be raised through a combination of debt and equity, with a significant portion being managed by Adani Green Energy (AGEL).
- Investment Goals: AGEL has earmarked an annual capital expenditure budget of $4 to $5 billion, focusing on the solar and wind projects in Khavda.
Future Renewable Energy Commitments
AGEL’s long-term vision includes delivering 50 GW of renewable energy by 2030, demonstrating its commitment to sustainable energy solutions. The company plans to roll out 5 to 7 GW of wind and solar projects annually in Khavda, according to sources.
In a recent development, AGEL operationalized 480.1 MW of renewable energy projects at Khavda, bringing its total operational capacity to an impressive 14,217.9 MW. This milestone highlights AGEL’s rapid growth in renewable energy production.
- Recent Funding Activities: Just last week, Adani Green secured $1.06 billion to refinance a previous debt facility linked to a renewable energy project in Rajasthan.
Expansion Plans in Mundra
Additionally, Adani New Industries (ANIL) is set to enhance its solar panel manufacturing capabilities in Mundra, increasing capacity from 7 GW to 10 GW. This expansion reflects the growing demand for solar technologies and the company’s strategic vision for the future.
In a bid to strengthen its financial foundation, Adani Power’s board approved a plan in January 2025 to raise up to ₹5,000 crore through a qualified institutional placement (QIP). This follows a successful funding round in the previous year when Adani Energy Solutions raised $1 billion through a similar QIP initiative.
Conclusion
As Adani Group continues to make significant strides in renewable energy, the upcoming funding in Khavda and Mundra showcases its commitment to sustainable development and innovation. The ambitious plans are not only set to transform the energy landscape in Gujarat but also position Adani as a leader in the global renewable energy market.
