InvestorQ : Is it true that Adani has floated a new company for its renewable energy ventures?
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Is it true that Adani has floated a new company for its renewable energy ventures?

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Rashi Mehra answered.
4 months ago
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Currently, all the new businesses are incubated under the Adani Enterprises banner. However, considering the importance of new energy in the new scheme of things for Adani group, they have decided to set up a new subsidiary, Adani New Industries Ltd (ANIL), to undertake green hydrogen and other renewable projects. ANIL will also work on other RE projects like low carbon power, manufacture of wind turbines, solar modules and batteries.

It may be recollected that Adani had already announced an aggressive plan to invest up to $70 billion into new energy over the next 10 years, which is much more than the $10 billion commitment made by the Reliance group. Incidentally, Adani Group is already the world's largest solar power developer. This is in sync with the aggressive plans of PM Modi to hike the share of renewable energy to 50% of the overall energy basket in India by 2030.

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