Gautam Adani, Chairman of the Adani Group, has set forth an ambitious plan to transform nearly all of the conglomerate’s diverse businesses into green and sustainable ventures. In his recent address to shareholders, Adani emphasised the group’s commitment to renewable energy and the adoption of clean energy practices across verticals, including ports and mines.
A Pioneering Shift to Green Energy
Adani Group boasts the largest operational renewable energy portfolio in India, focusing on developing the lowest-cost green electrons. However, green ambition goes beyond renewable watts and dollars. The conglomerate is now realigning its resource mix to “green” various businesses, from ports to mines.
Ports Going Green
Executives within the group revealed that Adani Ports and SEZ Ltd, India’s largest integrated ports and Logistics Company, has set an ambitious goal to become net carbon-neutral by 2030. The company is actively promoting the use of green fuels and incentivizing green shipping. Short-term initiatives involve the introduction of electric mobility at ports, aiming to reduce the reliance on diesel or CNG vehicles.
Embracing Sustainability Amidst Market Challenges
The decision to go green across all businesses holds strategic importance for the Adani Group, especially after facing challenges due to the Hindenburg report that impacted the conglomerate’s share prices and raised concerns among investors. With plans to raise funds back on track, the group is adopting clean energy practises to be more attractive to global climate funding and meet environmental-social-governance norms, satisfying existing foreign investors.
Adopting Sustainable Business Models
Addressing its coal businesses, Adani Group is introducing sustainable models, particularly for coal mines operated through the mine developer and operator (MDO) model. The group is exploring coal gasification, in line with the Central government’s push for cleaner energy solutions. Gasification transforms coal into a gaseous fuel that is cleaner and easier to handle.
Low-Resource-Intensive Approaches for Expansion
Adani Group is adopting low-resource-intensive approaches for its proposed expansions, such as procuring limestone sludge from the coal-to-PVC plant in Mundra, turning the plant’s byproduct into a valuable resource. The company also intends to focus on energy solutions, particularly green energy services for third-party companies, including data centers and semiconductor manufacturers.
AGEL’s Focus on Pump Storage
Adani Green Energy Ltd (AGEL) is actively considering pump storage as a large-scale method of storing energy, utilizing the same water repeatedly. This comes as the Centre plans to award mega-scale pump storage projects, showcasing AGEL’s commitment to sustainable energy solutions.
As the world moves toward a greener future, the Adani Group’s visionary green initiatives are poised to reshape the conglomerate’s businesses and align them with sustainable practices and global climate goals.
