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<keyword id="3179546" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="Orion">Adani Green Energy</keyword> Ltd (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>) on Wednesday said it has received recognition for conserving water against consumption. "AGEL has been certified Water Positive by DNV, an independent global assurance agency. The verification statement signifies that AGEL's <keyword id="6362691" type="General" weightage="20" keywordseo="water-conservation" source="Orion">water conservation</keyword> is greater than consumption," a company statement said. DNV conducted a qualitative and quantitative assessment of the water balance index for AGEL's operational sites having greater than 200 MW capacity in Tamil Nadu, Rajasthan, Karnataka, Gujarat and Andhra Pradesh. As per the assessment, the water balance index is 1.12 (positive), surpassing its target to become net water neutral by FY25, way ahead of time. The verification process entailed sample-based checks and the methodology, measurement techniques, estimation methods, assumptions and uncertainties involved in the process of water accounting as adopted by AGEL. AGEL has recorded a 99.5 per cent lower freshwater consumption per unit of generation as against the 3.5 KL/MWh statutory limit for thermal power in FY23. Adani <keyword id="5367310" type="General" weightage="50" keywordseo="green-energy-limited" source="Orion">Green Energy Limited</keyword> is the renewable energy platform of <keyword id="13943014" type="General" weightage="50" keywordseo="adani-portfolio" source="Orion">Adani Portfolio</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/siraj-reported-corrupt-approach-to-bcci-acu-before-australia-tour-bcci-source/articleshow/99607664.cms">Siraj reported corrupt approach to BCCI ACU before Australia tour: BCCI source</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/taking-a-bite-out-of-apples-secrets-mind-blowing-facts-you-might-not-know/slidelist/99608695.cms">Taking a bite out of Apple's secrets: Mind-blowing facts you might not know</a>

Adani Green Energy gets certification from DNV for water conservation

<keyword id="4543956" type="PERSON" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword> (AGEL) on Saturday announced that it has signed a share purchase agreement for acquisition of 100 per cent stake in an SPV holding 50 MW operating solar project of the Toronto-headquartered SkyPower Global. The project is located in Telangana and was commissioned in October 2017 and has a long-term <keyword id="511035" type="COMPANY" weightage="20" keywordseo="power-purchase-agreement">Power Purchase Agreement</keyword> (PPA) with the Southern Power Distribution Company in the state. With this acquisition, AGEL shall increase its operating renewable capacity of 3,395 MW with a total renewable portfolio of 14,865 MW. The closing of the transaction is subject to customary approvals and conditions. Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword>, said: "Strengthening our portfolio through organic and inorganic growth opportunities is in integral part of the our vision to build a capacity of 25 GW by 2025 and become the largest renewables company in the world. We will leverage the strength of our platform and capital management philosophy to achieve operational improvements and value-accretive returns from the project." <keyword id="76451" type="DOMAIN" weightage="20" keywordseo="Adani">Adani</keyword> Green Energy Limited (AGEL) is part of <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, and has one of the largest global renewable portfolios with 14.9 GW of operating, under-construction and awarded projects catering to investment-grade counterparties. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/easemytrip-ipo-listing-price-at-13-5-premium/articleshow/81581828.cms">EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-specs-oneplus-9e-specs-and-price-leak-and-oneplus-9-series-launch-date/articleshow/81168227.cms">OnePlus 9 series specifications and features leaked – here's everything we know about the upcoming OnePlus smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-review-of-moto-g10-power-mobile-phone-review-and-features-information/articleshow/81583548.cms">Moto G10 Power mobile review – big battery on a shoestring budget</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a>

Adani Green Energy to acquire 50 MW Solar Asset from SkyPower Global

Ahmedabad, Deepening its <keyword id="116175" type="ORGANIZATION" weightage="20" keywordseo="strategic-alliance">strategic alliance</keyword> in India's sustainable energy space, French energy major Total proposes to acquire 20% minority interest in Adani Green Energy Ltd. (AGEL). The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL. The transaction marks the deepening partnership between the <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> and Total -- in the transition and green energy fields in India. The investment in AGEL is another step in the strategic alliance between Adani Group and Total, across various businesses and companies of the Adani Group, covering investments in LNG terminals, gas utility business, and renewable assets across India. In 2018, Total and Adani embarked on the energy partnership with investment by Total in <keyword id="5214668" type="COMPANY" weightage="20" keywordseo="Adani-Gas-Limited">Adani Gas Limited</keyword>, city gas distribution business, associated LNG terminal business and gas marketing business. Total acquired 37.4% stake in Adani Gas Limited and 50 per cent stake in Dhamra LNG project. During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider sustainable energy space. Total and Adani agreed the acquisition of a 50 per cent stake in a 2.35 GW portfolio of operating solar assets owned by AGEL and a 20 per cent stake in AGEL for a global investment of $ 2.5 Billion. India has set a policy target of setting up 450 GW of renewable power capacity by 2030. In this context, Adani Group and Total have joined hands to develop green power sources at affordable prices and to deliver transformational energy solutions. AGEL, started in 2015 with the world's largest single location solar power project located in Kamuthi, Tamil Nadu (648 MW) has come a long way to be ranked as the number one global solar power generation asset developer by Mercom Capital. As on date, AGEL has over 14.6 GW of contracted <keyword id="4400882" type="PERSON" weightage="20" keywordseo="renewable-capacity">renewable capacity</keyword>, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025. Speaking on the occasion, Adani Group Chairman, Gautam Adani, said, "We are delighted to deepen our strategic alliance with Total, a global energy major, and welcome them as a significant shareholder in <keyword id="4543956" type="COMPANY" weightage="20" keywordseo="adani-green-energy-limited">Adani Green Energy Limited</keyword>. We have a shared vision of developing renewable power at affordable prices to enable a sustainable energy transformation in India. We look forward to working together towards delivering India's vision for 450 GW renewable energy by 2030." Speaking on the occasion, Total CEO, Patrick Pouyanne, said, "This agreement is an important step in our alliance with the Adani Group in India and our common vision and goals with respect to the importance of access to low carbon energy in India. Our entry into AGEL is a major milestone in our strategy in the renewable energy business in India put in place by both parties, which began with our first joint venture 2.3GW of renewable capacity. Given the size of the market, India is the right place to put into action/to deploy our energy transition strategy based on two pillars: renewables and natural gas." The Adani Promoter Group was represented by Clifford Chance and Cyril Amarchand Mangaldas. Total was represented by Latham &amp; Watkins and AZB Partners. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

French energy major Total proposes to acquire 20% stake in Adani Green Energy

New Delhi, Adani Solar Energy Kutchh One Limited, a step-down subsidiary of <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> Energy Limited (AGEL) has commissioned 150 MW solar power <keyword id="6355739" type="UNKNOWN" weightage="20" keywordseo="Project">project</keyword>. In a regulatory filing, Adani Green said that despite all the challenges of global pandemic Covid-19, unprecedented rain and flood in Kutchh, Gujarat, the company's team of experts made it possible to commission the project three months prior to its scheduled commissioning date. This plant has a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL's total operational renewable capacity grows to 3,125 MW. "The plant will be connected to our state-of-the-art Energy Network Operation Centre (ENOC) that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India," it said. With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects. Speaking on this development, Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword> said: "This is third solar plant commissioned by AGEL over a span of less than a month." "The trend demonstrates our sharp focus on timely project delivery and our long-term vision to achieve renewable capacity of 25 GW by 2025. It also reinforces AGEL's commitment to lead India's transition towards a greener future through a strategic approach and operational excellence," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Adani Green Energy arm commissions 150-MW solar power plant at Kutch, third in a month

<keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> has plans to invest USD 75 billion on <keyword id="1874332" type="General" weightage="20" keywordseo="energy-transition" source="Orion">energy transition</keyword> initiatives by 2030, its chairman Gautam Adani said on Wednesday. The <keyword id="6362476" type="General" weightage="20" keywordseo="investments" source="Orion">investments</keyword> will boost the group's vision to have 45 gigawatt of <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> capacity by 2030, Adani said in a statement. "We are committed to largescale renewables, developing an indigenous fully integrated <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword> ecosystem and green hydrogen solutions. At the Adani portfolio level, a total investment of USD 75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," the group chairman said. The investments will be executed through <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Limited (AGEL). AGEL has emerged as the second-largest global solar PV developer in the US-based Mercom Capital Group's latest annual global report. "The company's outstanding performance and contribution to the renewable energy landscape have earned it the prestigious second rank among the world's foremost solar PV developers," the statement said. It has an operating renewable portfolio of 8.4 GW, the largest in India, spread across 12 states, offsetting over 41 million tonne of CO2 emissions cumulatively.

Adani Group to invest USD 75 bn to scale up AGEL's RE portfolio to 45 GW: Gautam Adani

Sri Lanka's Board of Investment has approved the two wind power plants of AdGreen Energy to be built in <keyword id="248936" type="General" weightage="80" keywordseo="mannar" source="Orion">Mannar</keyword> and Pooneryn at a total investment of USD 442 million. According to the statement released by the Board of Investment of Sri Lanka on Friday, it has issued a letter of approval to <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Green Energy Limited, for the two wind power plants. Also, the new project will generate 1,500-2,000 new employment opportunities. The wind power plant in Mannar will operate at a capacity of 250 megawatt (MW) while the wind power plant in Pooneryn will operate at a capacity of 100 MW. The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, will be added to the national grid by 2025. <keyword id="82981" type="General" weightage="50" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings on Thursday affirmed the 'BBB-' ratings on the USD 400 million senior secured notes issued by the restricted group of India-based Adani Transmission Ltd (ATL, BBB-/Stable). The outlook is stable, the statement from Fitch said. The restricted group includes six co-issuers -- Barmer Power Transmission Service Limited, Chhattisgarh-WR Transmission Limited, Hadoti Power Transmission Service Limited, Raipur-Rajnandgaon-Warora Transmission Limited, Sipat Transmission Limited and <keyword id="16465511" type="General" weightage="50" keywordseo="thar-power-transmission-service-limited" source="Orion">Thar Power Transmission Service Limited</keyword> and one non-issuing Special purpose vehicle (<keyword id="6366358" type="General" weightage="50" keywordseo="spv" source="Orion">SPV</keyword>), Adani Transmission (Rajasthan) Ltd (ATRL). The Dhaka Tribune in a report on Thursday said the Adani Group will supply electricity to Bangladesh for the next 25 years. According to the agreement the company signed with the Bangladesh government, Adani is setting up a power plant in the Godda district of Jharkhand and once the plant starts to produce power, it will supply electricity to Bangladesh. The report added that Bangladesh signed the deal with Adani Power back in 2017. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/googles-impressive-magic-eraser-can-now-be-used-on-apple-iphone-and-samsung-galaxy-devicesheres-how/articleshow/98202224.cms">Google's impressive magic eraser can now be used on Apple iPhone and Samsung Galaxy devices—here’s how</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/what-to-expect-at-this-years-mobile-world-congress-2023/articleshow/98205888.cms">MWC 2023: Here's what to expect at this year’s Mobile World Congress</a>

Sri Lanka okays Adani's USD 442-millon wind power plants in Mannar and Pooneryn

<ul class="summary-list"><li>Coal billionaire Gautam Adani is building the world's largest power plant, and it's all renewable.</li><li>Adani's nephew, who's in charge of the project, says there's "no choice" but to go big on green energy.</li></ul>The largest power plant in the world is under construction, and it'll produce enough clean energy to fuel entire countries like Belgium, Chile, or Switzerland.It will cover 200 square miles — nearly the size of Chicago.Adani Green Energy Limited (AGEL) is building the solar and wind power plant in a salt desert in the western Indian state of Gujarat. AGEL is the clean energy unit of the Adani Group, the biggest coal miner and importer in India founded by <a target="_blank" href="https://www.businessinsider.com/who-is-gautam-adani-indian-industrialist-billionaire-wealth-elon-musk-2022-12">billionaire Gautam Adani</a> in 1988. Adani is currently the second richest person in Asia, <a target="_blank" href="https://www.forbesindia.com/article/explainers/top-10-richest-people-asia/88245/1">according to Forbes</a>.The Adani Group has promised to dump $70 billion into clean energy by 2030 — including $20 billion on this project alone — as India tries to reduce its reliance on fossil fuels, <a target="_blank" href="https://www.cnn.com/2024/03/19/business/india-adani-green-energy-plant-climate-intl-hnk/index.html">CNN reported</a>."There is no choice for India but to start doing things at a previously unimagined size and scale," Sagar Adani, the 30-year-old nephew of Gautum Adani and the executive director of AGEL, told CNN.India — the <a target="_blank" href="https://climatepromise.undp.org/what-we-do/where-we-work/india">third-largest energy consumer in the world</a>, 73% of which comes from coal — has pledged to reach net-zero emissions by 2070, two <a target="_blank" href="https://www.whitehouse.gov/wp-content/uploads/2021/10/us-long-term-strategy.pdf">decades later than the US has pledged</a>. India also hopes to get half of its energy from renewable sources by 2030.And AGEL's massive new plant could be a major step in making that happen.The project, expected to be finished in five years, will create 15,200 green jobs and produce enough clean energy to power 16 million Indian homes, AGEL <a target="_blank" href="https://www.adanigreenenergy.com/newsroom/media-releases/Adani-Green-Energy-operationalizes-1000-MW-of-the-30000-MW-Khavda-renewable-energy-park">said in a press release on its website</a>.As India develops, Sagar Adani told CNN he hopes his country does not burn through as much fossil fuel as other countries did during their developments."If India does what China did, if India does what Europe did, if India does what the US did, then we are all in for a very, very bleak climatic future," Sagar Adani told the outlet.However, AGEL's plant and green energy commitments are still built on profits from coal production.The Adani Group's coal mining operations make up at least 3% of the world's coal-based carbon dioxide emissions, and the group makes 62% of its revenue from fossil fuel, <a target="_blank" href="https://www.bloomberg.com/news/features/2022-09-09/world-s-third-richest-billionaire-adani-pivots-from-coal-mogul-to-green-champion?sref=yaJhKSOh">Bloomberg reported</a>.

Billionaire Gautam Adani got rich off coal. Now his company is building a green energy plant the size of Chicago. 

<ul class="summary-list"><li>Denmark's energy islands will be a hub for transmitting wind-generated electricity and producing green hydrogen.</li></ul><ul class="summary-list"><li>The energy islands will create a new power system that will be able to transmit offshore wind power over large distances.</li></ul>Denmark is building two energy islands that could accelerate Europe's green transition.The islands – which will consist of one artificial island in the North Sea and one built on the island of Bornholm in the Baltic Sea – will produce wind energy and, in the future, green hydrogen power.The projects signal a new, integrated approach to generating renewable energy. Located 100 km from the Danish mainland, the artificial North Sea island has the potential to supply electricity to several countries alongside Denmark, including the Netherlands, the UK, and Belgium – a scale which hasn't been previously possible. As well as contributing to the EU's 2050 net zero target, the renewable energy source would lessen Europe's reliance on Russian gas.Jacob Østergaard, professor and head of the Department of Wind Energy at the Technical University of Denmark, told Insider that the project is a "massive undertaking". "It's a completely new type of energy system that we are building," he added.<h2>A Danish innovation with implications across Europe</h2>The North Sea island, which is set to cost €28 billion, will be made up of a central hub made of steel, concrete, and sand, and will be surrounded by a series of platforms and wind turbines. No one will live there permanently — but there may be accommodation for short stays for workers.The Bornholm island will be on a similar scale and could provide electricity to Germany and Sweden in the future. For the 39,000 people who live on the island, the project is welcome – a recent poll by a local television station found that 85% of islanders are in favor of the project, which will consist of a huge transformer station on the south side of the island and a network of wind turbines.Klaus Vesløv, director of Public Affairs at Bornholm Energy &amp; Supply, told Insider that while there has been some backlash to the size of the transformer station, the majority of islanders hope that the project will bring jobs and energy security."Energy policy is also a security policy, in terms of not being reliant on Russian gas," Vesløv said. "This part of the discussion has actually moved the [green] agenda higher up." Renewable energy isn't a new endeavor for Denmark – they were the first country in the world to construct an offshore wind farm back in 1991. What's different about the energy islands, though, is the way that they will convert and transmit the electricity that they produce.Most traditional offshore wind farms transmit electricity directly to the mainland. <a href="https://www.insider.com/clean-power-to-overtake-fossil-fuels-in-britain-in-2019-2019-6" target="_blank" rel="nofollow noopener sponsored">While interconnectors have facilitated some electricity trade</a>, the ability to share wind-generated energy between countries is currently limited. That means that surplus wind power can sometimes go to waste.Hanne Storm Edlefsen, director for Energy Islands at Danish electricity operator Energinet, which is leading the project, told Insider that the energy islands will be "innovative, technological stepping stones" in the race to create an integrated, high voltage power system in the North and Baltic Seas."[The islands] will make it possible to harvest huge amounts of offshore wind energy and transmit it over long distances to decarbonize energy use even in European countries with limited or no coastline access to the sea," Edlefsen said.At first, the North Sea island will supply 3 gigawatts (GW) of electricity. Eventually, it will have a capacity of 10 GW.The hub will house high-voltage equipment to collect and convert power from alternating current to direct current. Direct current is able to transmit electricity over much larger distances.Edelfsen said that this innovation means that the energy islands will be able to be built much further out to sea than traditional offshore wind farms. It also means that the energy islands will be able to connect with more than one country and energy market at a time.<h2>Potential for producing green hydrogen</h2>The first islands could be gradually extended to develop an offshore grid infrastructure with multiple hubs, according to Østergaard."If you want to harvest energy far from shore it is much more efficient to collect the energy in hubs and then transmit to shore – instead of many individual cables from each wind farm going to shore," Østergaard said.He added: "Denmark should help Europe to fulfill this green transition and collaborate with all countries around the Baltic Sea and the North Sea."Once fully established, Edlefsen told Insider that the electricity produced on the energy islands could also be used to produce green hydrogen for sectors like heavy industry, aviation, and shipping."The development of hydrogen is fast-moving," Edlefsen said. "Already studies show that offshore production of hydrogen and the transport of hydrogen in pipelines on the seabed to the shores will be both feasible and in some cases economically viable as compared to onshore production."Green hydrogen could be especially important on Bornholm Island – around 60,000 ships pass the island each year."Bornholm could become a bunker hub for those ships," Vesløv told Insider. "We could utilize those vast amounts of energy to turn them into green fuels [for shipping]." Once completed, Bornholm Island will produce 6GW of electricity – enough to power 7 million homes. "The reality is nobody has done this before on this scale," Vesløv said, adding that Denmark's islands will be a "blueprint". "The world is going to build a lot of energy islands," he said.

Denmark's new 'energy islands' could revolutionize Europe's power systems

As part of its vision for the company's rapid transition to a new era of green, clean and renewable energy, the Chairman and Managing Director of Reliance Industries Limited (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>), <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, on Thursday unveiled the strategy and roadmap for its New Energy and New Materials business with an investment of ₹75,000 crore over a period of three years. During the 44th annual general meeting of RIL, Ambani said the investment would go into the setting up of four Giga factories that will manufacture and fully integrate all the critical components of the new energy ecosystem involving production of solar energy, storage of intermittent energy, production of green hydrogen and converting hydrogen into motive and stationary power. Reliance will invest 60,000 crore on these initiatives in the next three years. The rest 15,000 crore is kept for value chain, partnerships and future cost in the same time frame. Ambani said the company has started work on developing the Dhirubhai Ambani Green Energy Giga Complex over an area covering 5,000 acres in <keyword id="6361405" type="PERSON" weightage="20" keywordseo="jamnagar">Jamnagar</keyword>, Gujarat, which will be among the largest integrated renewable energy manufacturing facilities in the world. "Jamnagar was the 'cradle of our old energy business'. It will also be the 'cradle of our new energy business'," Ambani said at the AGM. Reliance will establish and enable at least 100 GW of solar energy by 2030 with a significant part of this coming from rooftop solar and decentralised solar installations in villages, he said. It will also set up an Advanced Energy Storage Giga Factory that will be used to produce large-scale grid batteries to store the energy that is created. The third initiative of the company would be the setting up of an Electrolyser Giga Factory to manufacture modular electrolysers of highest efficiency and lowest capital cost. These can be used for captive production of green hydrogen for domestic use as well as for global sale. The fourth initiative will be a Fuel Cell Giga Factory. A Fuel Cell uses oxygen from the air and hydrogen to generate electricity. "In 2016, we had launched Jio with the aim of bridging the Digital Divide in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Now in 2021, we are launching our New Energy business with the aim of bridging the green energy divide in India and globally," Ambani said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-chinas-2021-crypto-crackdown-in-2021-differs-from-the-2017-ban/articleshow/83802778.cms">Here’s how China’s 2021 crypto crackdown in 2021 differs from the 2017 ban</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO -- here's a look at if it makes sense</a>

Reliance Industries Limited  announces  ₹75,000 crore green energy plan to build four Giga factories

<keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman, <keyword id="45442" type="General" weightage="20" keywordseo="reliance-industries-limited" source="Orion">Reliance Industries Limited</keyword> (RIL) has said that the company has started developing the <keyword id="12015496" type="General" weightage="20" keywordseo="dhirubhai-ambani-green-energy-giga-complex" source="Orion">Dhirubhai Ambani Green Energy Giga Complex</keyword> over 5,000 acres in Jamnagar. Speaking at the <keyword id="12015497" type="General" weightage="20" keywordseo="International-Climate-Summit-2021" source="Orion">International Climate Summit 2021</keyword>, Ambani said it will be amongst the largest integrated renewable energy manufacturing facilities in the world. This complex will have four Giga Factories, which cover the entire spectrum of renewable energy. The first will be an integrated solar photovoltaic module factory. The second will be an advanced energy storage battery factory. The third will be an electrolyser factory for the production of Green Hydrogen. The fourth will be a fuel cell factory for converting hydrogen into motive and stationary power, Ambani said. Ambani said over the next three years we will invest Rs 75,000 crore in these initiatives. <keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> will thus create and offer a fully integrated, end-to-end renewables energy ecosystem to India and Indians, he added. Efforts are on globally to make Green Hydrogen the most affordable fuel option by bringing down its cost to initially under USD 2 per kg. "Let me assure you all that Reliance will aggressively pursue this target and achieve it well before the turn of this decade. Am sure that India can set an even more aggressive target of achieving under USD 1 per kg within a decade," Ambani said. This will make India the first country globally to achieve $1 per 1 kilogram in 1 decade -- the 1-1-1 target for Green Hydrogen, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/apple-reportedly-in-talks-with-car-maker-toyota-for-its-car-production/articleshow/85890531.cms">Apple reportedly in talks with car maker Toyota for its car production</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-rise-on-hope-that-modi-government-will-use-these-rescue-options/articleshow/85890407.cms">Market hopes Vodafone Idea will be saved and these are the rescue options</a>

Mukesh Ambani reiterates Reliance's ₹75,000 crore push, reveals development of Giga Complex under way

Leading bourses NSE and BSE have said that <keyword id="3179546" type="General" weightage="80" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> will be put under the second stage of the long-term additional surveillance measure (ASM) framework from Tuesday. In two separate circulars, the bourses said <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Green Energy shall continue in the ASM framework but will be moved to the respective higher stage from March 28. The move also comes close on the heels of the two exchanges moving two group firms Adani Total Gas and Adani Transmission from the second stage of the long-term ASM framework to Stage-I on Friday. On March 17, both exchanges put Adani Green Energy and <keyword id="6420486" type="General" weightage="50" keywordseo="ndtv" source="Orion">NDTV</keyword> under the first stage of the long-term ASM framework. Meanwhile, all the 10 listed firms of the Adani group on Monday ended the day in the negative territory, with <keyword id="45417" type="General" weightage="50" keywordseo="adani-power" source="Orion">Adani Power</keyword>, Adani Transmission, Adani Wilmar and Adani Total Gas each falling nearly 5 per cent. Many of the group firms hit their lower circuit limits during the day. The Adani group stocks have taken a beating on the exchanges since a report by US-based short-seller <keyword id="9916845" type="General" weightage="50" keywordseo="hindenburg-research" source="Orion">Hindenburg Research</keyword> was published in January this year. The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

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