Adani Green Energy Ltd. (AGEL), India’s largest renewable energy company, and Adani Energy Solutions Ltd. (AESL), the country’s leading private transmission and distribution provider, have joined the Utilities for Net Zero Alliance (UNEZA). UNEZA is an international coalition aimed at accelerating the adoption of renewable energy and overcoming barriers to global net zero targets.
The Alliance, guided by the International Renewable Energy Agency (IRENA) and UN Climate Change High-Level Champions, was established during COP28 with the UAE Declaration of Action. It brings together major power and utilities companies from across the globe to promote clean energy solutions and enhance electrification efforts.
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AGEL and AESL, part of the Adani Group’s diversified portfolio, are the first companies from India in their respective sectors to join UNEZA. As part of the Alliance, AGEL will focus on building clean power infrastructure, enhancing energy security, and improving energy efficiency. AESL, on the other hand, will concentrate on developing reliable grid infrastructure to support the transmission and distribution of green energy.
Speaking on the development, Mr Sagar Adani, Executive Director of AGEL, said, “Joining the Utilities for Net Zero Alliance, gives an opportunity to collaborate with global peers on advancing the sustainability goals, drive innovation and accelerate the clean energy transition. As India’s largest renewable energy player, we are committed to deliver 50 GW by 2030 and contribute 10% of the nation’s non-fossil fuel energy goal by that year,"
Mr Anil Sardana, Managing Director of AESL, highlighted the importance of the partnership, stating, "By joining Utilities for Net Zero Alliance, AESL will be able to leverage on the experience of its global peers and in turn share its own insights into building high-capacity renewable energy evacuation networks. Given the Adani Portfolio’s ambitious renewable energy plans, it is crucial for AESL to establish reliable evacuation networks for uninterrupted renewable energy offtake,"
Adani Green Energy plans to increase its operational renewable energy capacity from 11.2 GW to 50 GW by 2030. The company is also developing the world’s largest renewable energy project with a capacity of 30 GW at Khavda in Gujarat, covering an area nearly five times the size of Paris.
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For its Mumbai operations, Adani Energy Solutions aims to source 70% of its bulk power from renewables by 2030 and reduce direct emissions by 72.7% relative to 2020 levels. AESL is also investing $1 billion in a high-voltage direct current (HVDC) line to ensure uninterrupted renewable energy supply for Mumbai. Both companies aim to achieve net zero emissions by 2050.