Adani Group’s portfolio companies will invest $100 billion over the next decade to achieve its energy transition goals, including sourcing of renewables and development of hydrogen fuel cell electric truck among others.

The group has set a target to become net zero by 2050, or earlier, for five of its portfolio companies — Adani Green Energy (AGEL), Adani Energy Solutions (AESL), Adani Ports & Special Economic Zone (APSEZ), ACC and Ambuja Cements.

Under its strategy to decarbonise, the group has pledged to plant 100 million trees by 2030.

Adani Electricity Mumbai, a subsidiary of AESL, has increased its renewable energy share in the overall mix to 38.3% in the first half of the financial year. This has positioned Mumbai as the leading procurer of renewable energy amongst all megacities.

Further, AGEL achieved zero waste-to-landfill for all its operational sites and turned net water positive at all sites of 200 MW or more.

APSEZ is on track to turn net zero by 2040. In the first half of FY24, it achieved a 15% share of renewables in the total energy mix, reduced energy intensity by 46%, energy emission by 48% and water consumption intensity by 59%.

AEL is building three giga-factories, with a target to develop 10 GW solar panels, 10 GW wind turbines and 5 GW hydrogen electrolysers. For solar module manufacturing, the company has already set up a glass factory, while work is commencing on the ingot and wafer plant. In October, the company commenced production of a 5.2 MW wind turbine, which is the country’s largest.

Earlier, AEL had entered into an agreement with Ashok Leyland and Ballard Power to develop a hydrogen Fuel Cell Electric Truck (FCET) for mining logistics and transportation. This would make the company Asia’s first and one of the few firms globally to operate green hydrogen-powered mining trucks.