Stock Market Impact: Adani Group commits $10 bn in US energy, infrastructure projects

Stock Market Impact: Adani Group commits $10 bn in US energy, infrastructure projects

Gautam Adani, president of the Adani Group, announced a $10 billion investment in US energy security and infrastructure projects. The announcement came on Tuesday. Adani said the projects would create up to 15,000 jobs. He made the announcement in a post on social media platform X. Adani did not provide a timeline for the projects.

Adani Group president Gautam Adani on Tuesday announced an investment of $10 billion in US energy security and resilient infrastructure projects.

In a post on social media platform X, Adani said that the projects would create up to 15,000 jobs.

"Congratulations to Donald Trump. As the partnership between India and the United States deepens, the Adani Group is committed to leveraging its global expertise and invest $10 billion in US energy security and resilient infrastructure projects, aiming to create up to 15,000 jobs," posted Adani.

He, however, did not give the time period or details of the projects that his conglomerate will be pursuing in the US.

Adani impresses European Union ambassadors

Earlier in the day, four visiting diplomats - the ambassadors from the European Union, Germany, Denmark and Belgium - got first-hand experience of the Adani Group's renewable energy installations. Hosted by Gautam Adani, Chairman of the Adani Group, the European diplomats were provided an in-depth tour of the company's extensive renewable energy operations in Gujarat.

"It was a privilege to host the ambassadors from the EU, Belgium, Denmark and Germany at our office," Adani said in a post on X.

They visited the world's largest renewable energy park in Khavda, Gujarat, and India's largest port, logistics and industrial hub in Mundra.

"Our discussions were truly insightful, focusing on strengthening global partnerships to drive India's energy transition and accelerate the hydrogen ecosystem.

"At Adani, we continue to drive forward with our ambitious renewable energy initiatives while ensuring a balanced energy mix that supports a sustainable future for all of India," he said.

Khavda Renewable Energy Park, upon completion, will be the world's largest renewable energy park with a planned capacity of 30 GW, encompassing solar and wind energy projects over an area over five times larger than Paris.

The ambassadors also explored the state-of-the-art manufacturing facilities at the company's flagship Mundra Port, where the Adani Group produces photovoltaic panels and wind turbines.

These facilities are integral to the company's strategy to achieve a renewable energy capacity of 45 GW by 2030, aligning with India's decarbonisation goals.

During the visit, Adani outlined the group's ambitious plans to scale up green hydrogen production, aiming to meet the European Union's Renewable Fuels of Non-Biological Origin (RFNBO) requirements.

This initiative is part of a broader $70 billion investment in green energy, including the development of the world's largest solar energy park in India.