Adani Green to invest Rs 1.5 lakh cr to build world’s largest renewable energy project: MD

Vneet Jaain is the Managing Director of Adani Green Energy (AGEL) and also Director at Adani New Industries Limited (ANIL).

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26 Aug, 2025 12:21

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Adani Green Energy Ltd will invest Rs 1.5 lakh crore to boost capacity to 30 gigawatts (GW) at its Khavda renewable energy project site in Kutch, Gujarat, over the next five years, Managing Director Vneet Jaain told reporters after a site visit.

Billionaire Gautam Adani aims to build the world’s largest renewable energy project, spanning 538 sq km of barren land in Khavda, almost the size of Mumbai. Within a year of beginning work, the company has initiated operations for 2GW of the total 30GW planned for the project.

Besides the Rs 1.5 lakh crore on expansion of Khavda project, Adani Green will invest another Rs 50,000 crore on renewable energy projects totalling 6-7 GW in other locations by 2030. The group’s equipment manufacturing arm, Adani New Industries will invest Rs 30,000 crore, taking Adani Group’s total investment to Rs 2.3 lakh crore.

“In the ongoing financial year, we are planning to add around 4 GW; it will be 6 GW by March 2025. Subsequent years, we will add 5GW every year…we have plans of setting up in other parts of the country also,” Jaain said.

While the 2 GW capacity commissioned at Khavda recently is based on solar power, the project is also setting up wind energy capacity at the same location. The company has already installed windmills and aims to start generating power later this year.

With the commissioning of capacity at Khavda, Adani Green’s operating portfolio stands at 10.9 GW. The company aims to generate 45 GW of renewable energy by 2030, with Khavda accounting for most of it.

“Up to the next 7-8 years, up to 45 GW that we have planned for 2030, we have a complete financial management plan in place,” Jaain said when asked how the company will raise the financing.

While Jain did not share details, he said that the plan outlines the yearly financing needs and matches them with different fundraising avenues, such as internal accruals, equity, domestic loans, and external commercial borrowings.

Power Equipment Business

Jaain, who also serves as the director at Adani New Industries, is also overseeing the group’s arm setting up units for green hydrogen projects, manufacturing of wind turbines, and solar modules batteries among other components.

“Our ultimate aim is for the wind capacity going up to 5 GW at least and for the solar complete manufacturing ecosystem to be 10 GW minimum,” he said.

The company has an integrated manufacturing ecosystem of 1.5 GW for wind turbine generators located at Mundra, Gujarat. It also manufactures 4 GW of solar equipment at the location. The company exports most of its capacity from solar manufacturing units, while the group’s Khavda unit is built mainly on imported equipment from China.

India had a total installed solar power capacity of 75.57 GW as of February, of which almost 90 percent have imported modules.

When asked if Adani Green will source more equipment from group company Adani New Industries, Jaain said the two companies will continue to operate at “arm’s length.”

“If at Adani Green, they feel that they can get the better and the cheaper inputs from somewhere else, they will buy from that. And if they (Adani New Industries) feel that they can sell to somebody else, they will sell to somebody else,” Jaain said.

Adani New Industries is a subsidiary of Adani Enterprises Ltd, the flagship of the Adani Group, which incubated several businesses before they were listed on bourses.

Regarding Adani New Industries’ listing plans, Jaain said, “We are going for the expansion of our manufacturing, no second thought about it. The listing part is a separate issue.”