The Ambanis had earlier announced their fifth gigafactory, and Adani Group flexed their green energy strategy.
The Adani Group is currently showing off in the clean, green energy sector. The business plans to erect three gigafactories in India. Gautam Adani, the third-richest billionaire in the world, has long been an outspoken supporter of renewable energy. This follows the company’s growth and purchase of green energy companies.
In his acceptance speech for the USIBC 2022 Global Leadership Award, Gautam Adani discussed clean, renewable energy.
The unconventional industrialist stated that these giga factories will concentrate on technologies like solar modules, poly silicons, production of solar turbines, and hydrogen polyesters while speaking at the US India Business Council Global Leadership Award. The project is a part of a $70 billion investment in clean energy by 2030, which will make it the world leader in the generation of renewable energy.
According to Adani, these “giga factories” will produce 45 GW of clean energy. The group’s present 20 GW capacity will increase as a result. The group will produce 3 million tonnes of hydrogen by 2030. Ambani, Adani’s archenemy, has already revealed plans for his fifth gigafactory. The Ambanis revealed intentions to build 4 gigafactories in Jamnagar last year for an investment of Rs 75,000 crores (Gujarat). These four gigafactories include:
1) An integrated solar photovoltaic module factory for the production of solar energy, 2) An advanced energy storage battery factory for the storage of sporadic energy, 3) An electrolyser factory for the production of green hydrogen, and 4) A fuel cell factory for the conversion of hydrogen into portable and stationary power. Power electronics will be the focus of the fifth gigafactory.
Adani and Ambani are both aiming for clean, green energy, so perhaps this will just open up the market for further innovation and less expensive manufacturing. Despite their innovation, small startups and companies cannot scale and provide. Whether capitalism will improve or deteriorate the environment remains to be seen.