Adani Enterprises plans Rs 80,000 crore investment in current fiscal year

Adani Enterprises, the flagship firm of the Gautam Adani-led conglomerate with diverse interests ranging from new energy to airports and data centres, intends to allocate Rs 80,000 crore towards various business initiatives in the current financial year.

Saurabh Shah, Deputy Chief Financial Officer, revealed during an analyst call that a significant portion of the planned capital expenditure for the fiscal year 2024-25 will be directed towards new energy ventures and airport infrastructure.

"We are looking at a capex of about Rs 80,000 crore in FY25, out of which a major part...will go in Adani New Industries Ltd (ANIL) and airports business, amounting to about Rs 50,000 crore of capex," Shah said.

ANIL, which focuses on manufacturing solar modules and green hydrogen, is targeting the establishment of factories capable of producing 10 gigawatts of solar modules and 3 gigawatts of wind turbines.

Furthermore, significant investments are earmarked for the Ganga Expressway project (Rs 12,000 crore), PVC business expansion (Rs 10,000 crore), and data centre infrastructure (Rs 5,000 crore).

Looking ahead to FY26, additional capex will be directed towards kickstarting the green hydrogen business and downstream products.

Adani Group has already commenced commercial production of wafer and ingots for solar cells and modules at its Gujarat facility and aims to produce polysilicon by 2027-28 to become India's first integrated renewable energy player.

The conglomerate aims to generate 45 gigawatts of renewable power by 2030, with a significant portion expected to be generated at the Khavda renewable energy park in Gujarat.

The company's ongoing efforts to localise manufacturing processes aim to reduce India's dependence on imported polysilicon, primarily sourced from countries like China.

Adani Enterprises Ltd currently operates seven airports in India and is on track to launch a greenfield airport in Navi Mumbai by the end of FY25. The addition of this new airport is expected to substantially boost passenger traffic, according to company officials.

(With Reuters inputs)