Adani Group to invest $3-billion in new clean-energy business

24 Jun 2024 CW Team

The Adani Group intends to deploy Rs 250-275 billion for its inaugural pumped-storage hydropower (PSH) facility, reveal sources. PSH generates electricity by transferring water between two reservoirs at varying elevations.

Adani Green Energy Limited (AGEL) is slated to establish 5 GW of PSH capacity over the next five years, with plans to scale up to 25 GW, boosting the group's total green energy capability to 70 GW.

Initially, the group will develop PSH facilities in Maharashtra, Andhra Pradesh, Tamil Nadu, and Telangana, leveraging existing reservoirs and elevation structures already in place.

Focusing on India's clean energy sector, the Adanis seek to expand beyond their current solar and wind energy operations. With 11 GW of operational clean energy already in place and plans to reach 50 GW by 2030, the group's strategic move into PSH aims to align with India's renewable energy targets and global environmental commitments.

Financially, Adani's 3.5 GW PSH capacity has secured funding, with the initial 500 MW project in Andhra Pradesh set for commissioning in FY27. The financing structure involves equity from promoter contributions and internal accruals, supplemented by a debt facility of $3.4 billion, enhanced from $1.6 billion, backed by a consortium of 25 domestic and international banks.

The Adani Group's aggressive capex initiative in PSH places it ahead of competitors like Tata Power, NTPC, and JSW Energy, all eyeing significant investments in the PSH sector.

PSH technology, known for its ability to store surplus electricity and supply continuous power, holds promise in growing India's renewable energy portfolio and contributing to global climate goals.

(Source: Mint)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..