Adani Group, an Indian conglomerate, is reportedly in advanced discussions with sovereign funds in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects.
The Adani Group is targeting an EBITDA (earnings before interest, tax, depreciation, and amortization) of ₹80,000 crore by March 2024. To attract potential investors, the group has conducted roadshows in London, Dubai, and Singapore. These roadshows served as a platform for the group to showcase its future growth plans, with a particular focus on expanding in the airport sector and venturing into the emerging green hydrogen space, as reported by Business Standard daily.
Meanwhile, Adani Realty has won the contract to redevelop the 24-acre Bandra Reclamation land parcel, which was put up by the Maharashtra State Road Transport Corporation (MSRDC), according to a report by the Free Press Journal. The final approval is pending and will be determined by the MSRDC Board in their upcoming meeting, as reported by Mint on February 17, 2024.
Additionally, Adani Green Energy Limited (AGEL), a subsidiary of the Adani Group, is planning to develop a colossal 30 GW renewable energy plant in Khavda, India. Once completed, this project is poised to become the world’s largest renewable energy plant. It is expected to generate approximately 81 billion units of electricity annually, which is enough to power 16.1 million homes and prevent a staggering 58 million tonnes of CO2 emissions each year. AGEL aims to expand its operational portfolio to 9,029 MW and its total portfolio to an impressive 20,844 MW. Stay tuned for more details on how this green giant will reshape India’s energy landscape, as earlier reported by Mint.