Adani Green Energy (AGEL) will invest an additional $22 billion to expand capacity by more than five times by 2030 due to growing electricity demand. The company plans to spend $4.5 billion and add eight GW of installed capacity over the two years through March 2025, eventually reaching 45 GW by the end of this decade.
To achieve this target, the company will be required to increase its pace of installation. The company is focusing on the domestic market before exploring foreign expansion. AGEL’s clean energy segment has witnessed installed capacity grow to more than double in the past two years.
India’s electricity demand is growing seven percent annually, and the steep climb led the government to mandate the addition of both renewable and thermal capacity to prevent blackouts. It seeks to reduce its reliance on fuel by reaching 500 GW of clean capacity by 2030.
