Adani Group Targets 10 GW Hydropower Projects Overseas in Green Energy Push to Reach Net-Zero by 2050

Adani Group is planning to develop 10 gigawatts (GW) of hydroelectric projects overseas in the coming years as part of its goal to achieve net-zero carbon emissions by 2050, according to sources. These projects will help the company move toward its green energy targets. In 2022, Gautam Adani, the group’s billionaire owner, announced a plan to invest $100 billion over the next decade to boost green energy, including building the world’s largest solar park in India.

The group is looking at countries like Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam for these hydroelectric projects, focusing on areas with good conditions for hydropower generation and strong demand. Although Adani is primarily focused on pumped hydro storage in India, these countries offer promising opportunities for expanding hydropower.

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Adani Green Energy, the group’s renewable energy arm, already manages 11.2 GW of projects and plans to increase this capacity to 50 GW by 2030. The company is in discussions with governments and some private players in these countries, and has already signed agreements with Bhutan for a 570 MW hydroelectric plant in Chhukha and is evaluating a 700 MW project in Chamkarchu.

In Nepal and Bhutan, the electricity generated could be exported to India, where power demand is expected to rise due to economic growth. Adani is also exploring hydropower in other countries where it has existing business interests, such as Kenya, Tanzania, the Philippines, and Vietnam. Feasibility studies and project reports are underway in several locations.

In addition to hydropower, Adani has made significant investments in infrastructure in these regions, including leasing Kenya’s international airport for $1.85 billion and committing $3 billion for seaport and renewable energy projects in Vietnam. Earlier this year, it signed a 30-year agreement to operate a container terminal in Tanzania.