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India accelerated its renewable energy footprint despite the crisis, Gautam Adani tells shareholders

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At the Annual General Meeting, Chairman Gautam Adani said that despite the Covid outbreak and the energy crisis, India has increased its usage of renewable energy. India has done so at a time when some wealthy countries have suspended their pursuit of renewable energy ambitions.

“Also, while we have been often lectured on climate change, we have been one of the very few countries that have accelerated its renewable energy footprint,” Adani said.

Since 2015, India’s capacity for renewable energy has expanded by about 300%.

Indian Prime Minister Narendra Modi made a bold five-point “Panchamrit” goal at the COP26 meeting in Glasgow in late 2021, including achieving 500 GW of non-fossil electrical generation, generating 50% of all energy needs from renewable sources, and reducing emissions by 1 billion tonnes by 2030.

India also wants to cut its GDP’s emissions intensity by 45%. India finally pledges to have zero emissions by 2070.

He mentioned that the Adani group has invested around  $70 billion in facilitating India’s green transition.  Adani claimed that The company is leading the race to turn India from a country over-reliant on the import of oil and gas, to a country that might one day become a net exporter of clean energy. A transformation that will help reshape India’s energy footprint in an extraordinary way. 

India also plans to cut its GDP’s emissions intensity by 45%. India finally pledges to have zero emissions by 2070.

“The past year saw an astonishing 125 percent increase in capital investment in renewables compared to 20-21. There is no stopping India now as over 75 percent of the surging incremental demand that India needs is expected to be met through the addition of renewable energy generation. “

He praised the government for its role in balancing the act and managing it.

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