Ahmedabad, 24 September 2024: Adani Green Energy Ltd. (AGEL), India's largest renewable energy company, and Adani Energy Solutions Ltd. (AESL), India’s largest private transmission and distribution company, both part of the globally diversified Adani portfolio, today announced that they have joined the Utilities for Net Zero Alliance (UNEZA). UNEZA is an international platform for enhancing the co-operation within the power and utilities sector to accelerate the adoption of renewables and overcome common barriers in the realisation of global net zero ambitions.
Operating under the guidance of the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions, UNEZA was established at COP28 with the adoption of the UAE Declaration of Action. The Alliance unites leading global utilities and power companies with the aim of spearheading the development of renewable energy ready grids, promoting clean energy solutions, and advancing electrification efforts.
Both - AGEL in renewable energy and AESL in T&D sector – have become the first in their respective segments India to join this global alliance. As a member of UNEZA, AGEL will focus on areas like buildout of clean power, enhancement of energy security and improvement of energy efficiency, while AESL will redouble its efforts towards developing a reliable grid infrastructure for green energy transmission and distribution.
“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% of the nation’s non-fossil fuel energy goal by that year,” Mr 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 Mr Anil Sardana, Managing Director of AESL.
Both AGEL and AESL aim to achieve Net Zero by 2050.
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% by 2030. Additionally, the company aims to reduce its direct emissions by 72.7% by 2030, relative to 2020 levels. As part of investment in renewable energy infrastructure, AESL is constructing a USD 1 billion highvoltage direct current (HVDC) line to ensure uninterrupted renewable power supply for Mumbai.