Adani Group prepares to become king of energy, data centers with $100 billion investment

Gautam Adani-led Adani Group, which has joined the country’s top business groups in the last few years, plans to invest more than $ 100 billion in the renewable energy and digital segments over the next decade. Gautam Adani, the world’s second richest person, told that the group is confident of rapid growth in the country. In the digital segment, the group plans to focus on data centres.

Adani said that about 70 percent of this investment will be made in renewable energy. Adani Group, associated with business ranging from ports to energy, will add 45 GW of renewable power generation. Along with this, three big plants will be set up for the manufacturing of solar panels, wind turbines and hydrogen electrolyzers. Adani “As a group, we will invest more than $100 billion over the next decade, approximately 70 per cent of which will be in the renewable energy segment,” said Forbes Global CEO Conference in Singapore.

Adani started with small scale business of commodities. The business of his group has grown manifold in the last few years. Recently, he became the second richest person in the world with a net worth of around $143 billion, surpassing Amazon chief Jeff Bezos, French tycoon Bernard Arnault and former Microsoft chairman Bill Gates. The major reason for the increase in his wealth is the rise in the prices of oil and natural gas. Share prices of some companies of Adani Group have increased more than double this year. Share prices of Adani Green Energy and Adani Total Gas are trading at more than 750 times profit. The valuation of Adani Enterprises and Adani Transmission is more than 400 times.

The total market capitalization of the listed companies of Adani Group is around $260 billion. Gautam Adani is taking his group forward according to Prime Minister Narendra Modi’s long-term goals of the country’s economic growth. From the point of view of the stock market, these efforts of Adani seem to be successful. Share prices of some of his companies have risen by more than 1,000 per cent in the last two years, while the Sensex has gained nearly 44 per cent during this period.

(This news has not been edited by NDTV team. It is published directly from syndicate feed.)