London Daily

Focus on the big picture.
Tuesday, Aug 05, 2025

Asia's richest man wants India to lead a green energy revolution

Asia's richest man wants India to lead a green energy revolution

India's Gautam Adani, the richest man in Asia, made his vast fortune betting on coal. Now he's aiming to become the world's top player in renewables by 2030 and to make his country a clean energy superpower.

With six coal-fired power plants, Adani, 60, is India's largest private player in power. He invested after India liberalized its economy in the early 1990s and kicked off an energy-intensive boom.

Electricity demand in India continues to grow exponentially, and the government wants to boost renewable energy generation capacity to partly meet the increasing demand.

Amid the pressure to move away from fossil fuels, Adani has already added green energy to his portfolio. Now he's pledging to invest $70 billion in renewables by 2030, which he hopes will ultimately generate more electricity than burning coal.


'One of the most ambitious targets in the world'


India is the world's third largest emitter of greenhouse gases behind China and the United States. To curb emissions, Indian officials say they want to increase the share of renewables in the nation's energy mix.

Renewables account for 22 percent of India's total installed capacity of about 357 GW. The government wants to have 175 GW of renewable-based installed power capacity by 2022, and raise it further to 500 GW by 2030. 

It hopes reaching these goals will help India achieve carbon neutrality by 2070 and reduce vulnerability to external energy shocks.

"This is one of the most ambitious renewable energy targets in the world, far more than the targets set by developed countries," energy and climate change expert Chandra Bhushan told RFI.

"Overall, these targets are highly desirable, but will need major reforms in the transmission and distribution sectors and stable policies to achieve."

Manufacturing solar panels in in Oragadam, in the southern Indian state of Tamil Nadu.


Adani recently launched a major push for capital to finance his push for renewables, which he says is in line with India’s interests and New Delhi’s decarbonisation goals.

“We aligned our business and business ambition in line with government wishes. And because of that we always got tailwind,” Adani said in an interview with the Financial Times.


Betting on green hydrogen


In recent months, Adani's net worth has shot up nearly 2,000 per cent to $125 billion according to Bloomberg's Billionaire Index.

Earlier this year, Adani Enterprises announced a partnership with France’s TotalEnergies with an investment of $50 billion over the next 10 years.

Green hydrogen – hydrogen produced with renewable energy – is at the centre of these plans. Countries all over the world are racing to develop the fuel, which for the time being remains costly.

Addressing the World Congress of Accountants in Mumbai in November, Adani said that India could even become a net exporter of green energy by 2050.

"Cooling the planet down will be one of the most profitable businesses and the largest of job creators over the next several decades," he said. 

"I am in no doubt that India will lead the global energy transition."

Gautam Adani speaks at the World Congress of Accountants in Mumbai on 19 November 2022.

No plans to cut out coal


Adani's renewables arm, Adani Green Energy, says it is one of the largest renewable energy companies in India to develop, build, own, operate and maintain utility-scale, grid-connected solar and wind projects.

“Contributing to India’s renewable energy dreams, Adani Green Energy is on track to become world’s largest renewable energy company by 2030,” according to its website.

But environmentalists worry that India's continued use of coal will hamper the global fight against climate change, despite the country's commitment to clean energy.

The fossil fuel remains central to India's plans to power its growing economy, as well as to Adani's business. The billionaire has not made any commitments to phase out coal and continues to build coal-fired power plants.

"The shift to renewable energy is not an easy transition," said Sreedhar Ramamurthi of Environics Trust, a non-profit community development outfit.

"While making targets of increasing renewable energy, the government must look into the concern that it does not harm the environment."

Newsletter

Related Articles

0:00
0:00
Close
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
×