Gautam Adani is planning to set up sustainable wind and solar-powered plants in regions of North Africa and provide facilities to produce clean hydrogen for exporting purposes. The coal-to-ports corporation seems to have a probable strategy to forward the initiative. Business Outreach Magazine wants to reach out to our viewers and readers to provide better clarity on the situation.
What is the plan?
Gautam Adani currently takes a title Asia’s richest personality and wants to deliver emission-free energy to the regions of Europe. And he is aiming to create an energy plant in Morocco to forward his plan. Reports indicate that the project is expected to be as big as 10 gigawatts. From such figures, it is suggested that this structure would be the largest renewable power project outside India to be created by Gautam Adani.
Currently, Morocco has the capacity of energy generation clocked at a total of about 2.8 gigawatts of clean energy that includes solar power and wind. This project is heading to be equal to this amount of energy capacity. The execution of the plan will be divided into two parts of 5 gigawatts each. One part is planned to provide power at a local setup and the other part is expected to direct power to Europe.
How to proceed with the setup?
Surveys indicate that Gautam Adani is conducting a thorough discussion with Morocco’s state-rules OCP Enterprise for the purpose of selling hydrogen. This will provide the fertilizer manufacturer to bring out feedstock that is devoid of ammonia.
Considering the pace of technology and innovation, one has to consider years to witness the system of seeing clean hydrogen getting exported to the regions of Europe. In Saudi Arabia, a 4-gigawatt sustainable energy project is figured to take about 4 years to complete.
In North Africa and regions of the Middle East, the large amount of sunlight and wind make them major hubs of hydrogen producers. This creates immense potential for green power to be exported to the area of Europe. In the month of July, ReNew Energy, which is an Indian corporation signed an agreement to create a clean hydrogen project worth $ 8 billion in Egypt.
Key Takeaways :
It can be taken into consideration that Gautam Adani wants to create a massive empire to produce renewable energy in the next few years. Although Adani Group is investing heavily in fossil fuels, his plans to set up green energy projects will further allow India and the world to reach the aim of net zero and reduce carbon emissions at industry levels.
Contemporary companies like Mukesh Ambani who is the leader of Reliance Industries Ltd, India’s state-supervised NTPC Ltd, and also the Indian Oil Corporation are up on their toes to compete for renewable energy providers.
Gautam Adani is the founder and chairman of Adani Group has a net worth of $ 132.1 billion. He is also the fourth richest individual in the world. In the month of March 2020, Gautam Adani donated about Rs. 100 crore to the Prime Minister’s Care Fund in order to battle the COVID-19 pandemic. He also contributed Rs 5 crore to Gujarat CM Relief Fund and about Rs 1 crore to Maharashtra Chief Minister Relief Fund.
