Energy transition and digital infrastructure are two pivotal sectors reshaping India's economic and sustainable future, according to billionaire Gautam Adani.
The chairman of Adani Group described energy transition as a monumental shift from fossil fuels to renewable energy sources like solar, wind, and hydrogen. This shift is not just essential for combating climate change but is also set to redefine the global energy landscape, he said during his keynote address at the Crisil Rating's Annual Infrastructure Summit on Wednesday.
The global energy transition market, valued at approximately $3 trillion in 2023, is expected to nearly double to $6 trillion by 2030 and continue doubling every decade until 2050, he said.
India aims to install 500 gigawatts of renewable energy capacity by 2030, an ambitious target that will require annual investments exceeding $150 billion, according to Adani.
This shift will generate millions of new jobs in sectors like solar and wind energy, energy storage, hydrogen production, electric vehicle charging stations, and grid infrastructure development, he said.
Adani asserted that the 'green electron' will become the primary driver of economic progress, with the potential market size for green electrons being virtually limitless.
Adani also emphasised the growth in data generation, driven by increasing reliance on digital platforms. At the heart of this growth are data centres, which are the critical infrastructure needed to power artificial intelligence workloads, including machine learning algorithms, natural language processing, computer vision, and deep learning, he said.
However, data centres are massive energy consumers, making the energy transition even more complex, as Adani pointed out. Rising electricity tariffs, driven by climate change and demand growth, add to the complexity.
Infrastructure for energy transition and digital transformation are now inseparable as the technology sector becomes the largest consumer of green electrons, he said.
The Adani Group plans to invest over 100 billion dollars in the energy transition sector in the next decade, further expanding its integrated renewable energy value chain.
This investment includes the construction of the world's largest single-site renewable energy park in Khavda, Kutch district, which will generate 30 GW of power. This project alone will boost the group's total renewable energy capacity to 50 GW by 2030.
By 2030, the world will need an additional 100 to 150 GW of green energy solely for AI data centres, he said. The Adani Group, which holds India's largest order book for data centres, is uniquely positioned to deliver these gigawatt-scale green AI data centres.
Adani also reiterated the critical role of infrastructure investment in driving GDP growth.
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