Adani Group, a multinational business conglomerate headquartered in India with interests in energy, resources and real estate, has been ranked as the largest solar power generation owner 

in the world (in terms of operating solar projects) by Mercom Capital.

 

With a portfolio of 12.32 GWac, Adani’s renewable energy portfolio exceeds the total capacity installed by the entire US solar industry in 2019 and will displace over 1.4 billion tons of carbon dioxide over the life of its assets. 

 

The group is one of the most fully integrated solar players in the world, manufacturing solar cells and modules, undertaking project development, construction, financial structuring and owning and operating its assets through its robust internal asset management platform. 

 

Adani Green Energy Limited (AGEL) had established its first solar project only in 2015 and presently has a combined wind and solar portfolio of 14.62 GWac.

 

In terms of under construction and awarded capacity, Mercom Capital further gives top position to Adani Green with 10.1 GW of projects.

 

As per the ranking, Adani is roughly 70 per cent larger than the next-largest global solar power generation company. 

 

AGEL even as recently as 2017 had completed just two solar projects. The company went public in 2018 and has accelerated its presence to reach the current milestone of being the largest solar player in the world in a short span of just five years, and has a stated target of reaching 25 GWac of renewable power by 2025.

 

On this major achievement, Chairman Gautam Adani said: "Achieving this ranking is a direct result of our commitment to creating the infrastructure needed for a clean-powered future. While we are pleased to be ranked the largest solar player in the world, we recognize that there is a lot more that remains for us to do as the world transitions into an increasingly decarbonized energy landscape."

 

"We anticipate that over the next decade several existing business models will be impacted as a result of the disruption caused by the intersection of plummeting cost of renewable energy and the ability of technology to rescale industries," remarked Adani.

 

AGEL also achieved a top spot in the global ranking in terms of under construction and awarded capacity with 10.1 GW of projects, making it the definitive leader in mega-scale renewable energy project deployments. 

 

As India pushes to invite more global business partners to invest domestically, it sees its growing renewable footprint as helping companies simultaneously fulfill two essential goals: tapping into one of the fastest growing consumer markets and achieving their sustainability targets. 

 

The Adani Group has positioned itself at this intersection to help its partners attain both these objectives, said its top official.

 

"We expect our renewable energy platform will create new possibilities for our core business and we will be able to address some of the most intractable problems that humankind has faced, including affordable decentralized energy, availability of distributed clean water, green hydrogen as an alternate fuel, and micro agriculture, among others," remarked Adani. 

 

"Building partnerships with major industrials, data center providers, and global integrated energy players that seek to reduce their carbon footprints will also continue to further accelerate our growth. AGEL was launched just five years ago, our story is only beginning," he added.

 

The Adani Group, headquartered in Ahmedabad, in the Indian state of Gujarat, operates globally with six publicly traded companies with total revenues of $15 billion and a market capitalisation of $30 billion. 

 

Over the years, Adani Group has positioned itself to be the market leader in its transport logistics and energy utility portfolio businesses focusing on large scale infrastructure development in India with O & M practices benchmarked to global standards. 

 

It has created world class transport and utility infrastructure portfolios with a pan-India presence.-TradeArabia News Service