1. Coal billionaire Gautum Adani is building a massive renewable power plant in India.
2. The plant will cover 200 square miles and produce enough clean energy to power 16 million Indian homes.
3. Despite the focus on green energy, the Adani Group still makes 62% of its revenue from fossil fuels.
Billionaire Gautam Adani is leading the construction of the world’s largest power plant, focused on renewable energy. Although his nephew, in charge of the project, believes there is no choice but to prioritize green energy, 62% of Adani Group’s revenue still comes from fossil fuels. The power plant being built by Adani Green Energy Limited in India’s Gujarat state will cover 200 square miles and produce enough clean energy to power millions of homes.
The Adani Group has committed to investing $70 billion in clean energy by 2030, with a significant portion allocated to this massive project. India, aiming to reduce its reliance on fossil fuels, has set ambitious goals for renewable energy consumption and net-zero emissions by 2070. The solar and wind power plant under construction is expected to create over 15,000 jobs and play a significant role in achieving these targets.
As India continues to develop, Sagar Adani hopes the country avoids the excessive use of fossil fuels seen in other parts of the world during their development. Despite its focus on green energy, the Adani Group’s profits still heavily rely on coal production. This raises concerns about the environmental impact and carbon emissions generated by the coal mining operations, which contribute significantly to global emissions.