London Daily

Focus on the big picture.
Monday, Aug 25, 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
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
×