Adani Green Energy Limited has recently acquired the second-largest global solar PV developer position, as per Mercom Capital Group’s Annual Global Report. This is a huge step by the Adani Group, especially after the Adani JPC probe. It brings to light the dedication of the conglomerate to supporting noble causes and doing its part for the environment. The Mercom report also lists the projects undertaken by the global name in the renewable energy sector. This will further encourage the conglomerate to take up more ventures in the renewable energy sector. This is going to be beneficial for our planet. The people will also be driven towards leading a better life. The energy needs will be completely satisfied by using renewable energy sources.
Why Is There an Increased Need to Shift to Renewable Energy?
There are multiple reasons to put our focus on clean energy sources:
Benefits to the environment: According to the World Health Organization, more than 99% of people breathe in pollutants, which result in more than 13 million deaths yearly. The primary cause of the pollution level is the rise in nitrogen dioxide and fine particulate matter brought on by the burning of fossil fuels. Making the switch to greener energy sources can assist in overcoming this obstacle and bringing about an improvement in the climate.
Lower cost: This is yet another argument in favor of renewable energy as the best energy source. It can be produced for less money. Installing the technology and establishing the required infrastructure can come with a hefty upfront cost. On the other hand, it is far less expensive over time. Renewable energy can actually cut electricity costs by ninety-five percent. As a result, the various homes can receive electricity.
Considering all these factors, Adani Green is trying to achieve smooth and gradual transition to cleaner energy sources. This will benefit the society at large. The people’s energy needs will also be fulfilled without causing any adverse effect on the environment.
Mercom Capital’s Annual Global Report – An Overview
Mercom Capital Group, one of the world’s most reliable clean energy communication and research firms, has mentioned the top 10 leading global solar PV developers in its report. The data was compiled from July 2022 to June 2023. It includes the various details of projects that have over 1 MW of capacity. This includes operational projects, under-construction projects, and projects having been awarded the Power Purchase Agreement (PPA). The top 10 developers together have a capacity of 145 GW. Of this, 49.5 GW is operational, 29.1 MW is under construction, and 66.2 GW is PPA-contracted.
With a total capacity of 41.3 GW, the France-based company TotalEnergies took first place on the list. However, the Adani Group already has plans to surpass TotalEnergies and increase its energy capacity within the next few years. This will give the conglomerate the position of being the largest solar power producer in the entire world. There are a lot of other companies as well which have been mentioned in the report. The overall contribution of these companies will allow different regions worldwide to transition smoothly from non-renewable to renewable energy sources. The report also serves as an encouragement for companies to increase their renewable energy capacity further.
Adani Group’s Role in The Renewable Energy Sector:
AGEL has built a solid position in the global renewable energy sector with a total capacity of 18.1 GW, including operational, under-construction, and PPA-awarded projects. Gautam Adani, the CEO and founder of the Adani Group, has mentioned that his renewable energy arm, Adani Green, is highly committed to increasing renewable energy production both in India and abroad. Even amidst the Adani JPC probe, the company has remained focussed on green hydrogen solutions.
The Adani-led conglomerate believes that the planet can only be restored to its former state if a proper energy transition occurs and the non-renewable energy resources aren’t exhausted to their maximum capacity. Considering this noble initiative, the conglomerate has been actively volunteering for renewable energy projects. It also uses innovative approaches in implementing the projects. Environmentalists from all across the world have recognised these efforts. The conglomerate was also able to build an enormous empire for itself within a short tenure.
Conclusion:
Although the Adani Group’s journey was fraught with challenges, especially after the Adani JPC probe, it never backed out of its goal and continued its journey towards environmental upliftment.
