India's Adani Group is set to construct 10 gigawatts of hydroelectric projects abroad in the coming years, aiming to reach its goal of net-zero carbon emissions by 2050. Sources familiar with the plans have indicated that the conglomerate, led by billionaire Gautam Adani, is exploring opportunities in countries such as Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam.
In 2022, Adani announced a $100 billion investment over the next decade to enhance its green energy capabilities, which includes the establishment of the world's largest solar energy park in western India. The group is particularly focused on pumped hydro storage within India but is drawn to international markets with favorable geography and demand for hydropower.
Through its renewable energy arm, Adani Green Energy, the company currently operates 11.2 gigawatts of renewable projects and aims to expand this capacity to 50 gigawatts by 2030. The group has already signed an agreement with the Bhutanese government for a 570-megawatt hydro power plant in Chhukha province and is evaluating a 700-megawatt project at Chamkarchu, where necessary approvals are in place.
Adani is also in discussions with developers in Nepal, indicating that electricity from these projects could be exported to India, which anticipates a rise in power demand due to strong economic growth. The group has existing business interests in Kenya, Tanzania, the Philippines, and Vietnam and is actively conducting feasibility studies for various projects in these countries.
Despite numerous inquiries, authorities in the aforementioned countries have not responded to requests for comments regarding Adani's plans. Additionally, Adani has pledged substantial investments in infrastructure and renewable energy projects in these regions, further solidifying its international presence.
Source: Reuters
