Adani Energy Solutions, Adani Green Join Utilities For Net Zero Alliance

Adani Green Energy and Adani Energy Solutions have joined the Utilities for Net Zero Alliance, a joint statement said on Tuesday.

Utilities for Net Zero Alliance (UNEZA) was established at COP28 with the adoption of the UAE Declaration of Action. The alliance unites leading global utilities and power companies to spearhead the development of grids that are ready for renewable energy, promoting clean energy solutions and advancing electrification efforts.

Adani Green Energy Ltd (AGEL) and Adani Energy Solutions Ltd (AESL) have become the first in their respective segments in India to join this global alliance, the statement said.

As a member of UNEZA, AGEL will focus on areas like the build-out of clean power, enhancement of energy security and improvement of energy efficiency, whereas AESL will redouble its efforts towards developing a reliable grid infrastructure for green energy transmission and distribution.

Both AGEL and AESL aim to achieve net zero emissions by 2050.

"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 per cent of the nation's non-fossil fuel energy goal by that year," Sagar Adani, Executive Director, AGEL, said.

"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," said Anil Sardana, Managing Director of AESL.

Adani Green Energy plans to increase its renewable energy portfolio from the current operational capacity of 11.2 GW to 50 GW by 2030. The company is developing the world's largest renewable energy plant with a capacity of 30 GW at Khavda in Kutch, Gujarat. Built across 538 sq. km, it is almost five times the size of Paris and on completion, it will be the planet's largest power plant across energy sources.

For its Mumbai distribution arm, Adani Energy Solutions has set a target to increase the share of renewables in bulk power purchase to 70 per cent by 2030. Additionally, the company aims to reduce its direct emissions by 72.7 per cent by 2030, relative to 2020 levels. As part of investment in renewable energy infrastructure, AESL is constructing a $1 billion high-voltage direct current (HVDC) line to ensure uninterrupted renewable power supply for Mumbai.

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