Adani Enterprises to invest Rs 80k cr in current fiscal

New Delhi, May 12 (PTI) Adani Enterprises, billionaire Gautam Adani-led group’s flagship firm that has interests spanning from new energy to airports and data centres, plans to spend Rs 80,000 crore across businesses in the current financial year, a senior company executive said.

A bulk of the capital expenditure planned for 2024-25 (April 2024 to March 2025) fiscal will be on new energy businesses and airports, said Saurabh Shah, deputy chief financial officer, at an analyst call, transcript of which was released by the company.

“We are looking at a capex of about Rs 80,000 crore in FY25, out of which a major part…will go in ANIL and airports business which take up about Rs 50,000 crore of capex,” he said.

ANIL is Adani New Industries Ltd which makes solar modules that convert sunlight into electricity, and green hydrogen.

“Then the third would be in roads, which, because of Ganga Expressway, will be capex of Rs 12,000 crore and rest put together in other businesses,” he said. “Because we are also starting our PVC project, there will be a capex of about Rs 10,000 crore in the PVC business, while the remaining would be in the data centre at about Rs 5,000 crore.”

Shah said ANIL is targeting factories to produce 10 gigawatt of solar modules as well as 3 GW of wind turbines.

“For FY26, the other capex would be for the initial requirements that we have to meet for our green hydrogen business, which will be as a kickstart for our green hydrogen as well as downstream products,” he said.

Adani Group has begun commercial production of wafer and ingots used for making solar cells and modules at its factory in Gujarat. It aims to make polysilicon in 2027-28 to become India’s first integrated renewable energy player.

The group aims to generate 45 GW of renewable power by 2030, two-thirds of that being produced at Khavda renewable energy park in Gujarat.

Currently, imported polysilicon is used for making ingots that are converted into thin sheets called wafers that are used to make solar power cells. Adani is looking to build local manufacturing capability to cut India’s reliance on countries such as China for meeting this requirement.

Adani Enterprises Ltd operates seven airports in the country. It is building a greenfield airport in Navi Mumbai where it hopes to start operations by the end of FY25, the official said adding the addition of the new airport is likely to lead to a quantum jump in passenger traffic.