India’s Adani Group plans to outlay more than $100 billion over the next decade, mostly on the transition to clean energy, its chairman Gautam Adani said on Tuesday.
The ports to energy conglomerate, founded in 1988 as a commodities trading house, has already begun an aggressive expansion plan, venturing into multiple sectors in line with the priorities of the Modi government.
Adani, who is now the world’s second richest person, told the Forbes Global CEO conference in Singapore: “As a group, we will invest over $100 billion of capital in the next decade.
“We have earmarked 70% of this investment for the energy transition space. We are already the world’s largest solar player, and we intend to do far more.”
The 60-year-old billionaire did not say how the investments would be financed. Debt research firm CreditSights said earlier this month it was concerned about the…
India’s Adani to Splash $100bn on Clean Energy Over Decade
