In order to create power projects capable of producing 30 gigawatts of adani solar energy, the Adani Group is building a sizable solar farm. The group’s goal of 45 gigawatts of capacity by 2030 includes this initiative.
The Adani Group, which is engaged in a number of industries, appears to have fully transcended Hindenburg’s influence. In just one week, the group bought an Odisha port, opened a $1.2 billion copper plant, and raised its cement company stake.
In addition, they have partnered with Reliance Industries, previously thought of as a competitor, owned by Mukesh Ambani. The company has been announcing developments on a regular basis: growth and investment in its primary port operations, diversification in metal refining, capital infusion into the cement industry, and the start of its massive solar project.
With the announcement on March 26, Adani Ports made the largest number of port acquisitions of any private company in the nation, with 15 ports under its control after announcing that it would buy a 95% stake in Gopalpur Port for Rs 3,350 crores. Afterwards, on March 28, the group’s principal company, Adani Enterprises Ltd., declared the opening of the first phase of the largest copper manufacturing plant in the world, located in Mundra, Gujarat. The organization is now officially a part of the metal refining industry.
The nation’s output of copper is rising quickly.
With a total investment in the plant of $1.2 billion (roughly 10,000 crore rupees), India is now on par with China and other nations. These nations are producing more copper than ever before. Due to its minimal reliance on fossil fuels like coal, this metal is essential. Copper is necessary for adani solar photovoltaics (PV), wind, batteries, electric vehicles (EVs), and charging infrastructure as the energy industry shifts to renewable sources.
Gautam Adani, the group’s promoter, and his family announced that they would invest 6,661 crore rupees to raise their ownership of Ambuja Cements, the nation’s second-largest cement company, to 66.7% on the same day. Adani Green Energy Ltd., the group’s renewable energy division, declared a day later that construction on its 775 megawatt adani solar energy project in Khavda, Gujarat, had begun.
Large-scale solar farm construction in Khavda
The Adani Group is building a massive adani solar farm in Khavda to create power projects capable of producing 30 gigawatts of adani solar energy. This project is a component of the group’s plan to reach the 45 gigawatt capacity goal by 2030. Adani and rival businessman Mukesh Ambani declared their first-ever partnership on March 28. In accordance with this, Reliance Industries purchased a 26% share in adani solar Power’s 500 megawatt Madhya Pradesh power project.
Adani Group is once more expanding. The announcements made in the last week, according to analysts, suggest that Adani is once again planning to expand. Adani announced significant expansions following a 14-month period following the release of the Hindenburg Research group’s report. The report made accusations of “manipulation in accounts” and “manipulation in open shares.
The group’s company shares saw a sharp decrease as a result, and at one point, their market valuation dropped by almost $15 billion. But the committee rejected Hindenburg’s report out of hand as unfounded. The management of the company has disclosed to investors that the group intends to invest Rs 7 lakh crore in capital expenditures over the next ten years to expand its core infrastructure businesses.
Abundant orders for the Maharatna company: Adani solar Power secures a ₹4,000 crore contract, sending its shares skyrocketing
A 2×800 megawatt Raigarh Phase-II thermal power plant in Raigarh, Chhattisgarh, is to be built by the nation’s Maharatna company, Bharat Heavy Electricals Limited (BHEL), on an order from Adani Power. Shares of BHEL opened at Rs 253.05 today and closed at Rs 253.70 following this noteworthy update. BHEL shares closed at Rs 243.50 on Wednesday, up 1.5% from the previous close. This stock has increased by over 95% just in the last six months.
It’s important to note that this is BHEL’s fourth order of the year and its second significant order for March. According to BHEL, the project will cost ₹4,000 crore in total, not including GST.
In accordance with this order, the company will oversee the construction and commissioning of the 2×800 megawatt power project based on supercritical technology in addition to providing equipment such as boilers, turbines, and generators.
At the BHEL plants in Tiruchi and Haridwar, the construction of boilers and turbine generators will take place one after the other. It is anticipated that the first unit’s supply contract will be fulfilled in 31 months after it is executed, and the second unit’s delivery will be finished in 35 months.
An order worth ₹9,500 crore was given to BHEL at the beginning of this month by NTPC to establish the Singrauli Super Thermal Power Project, Stage-III (2×800 megawatt) in the Uttar Pradesh district of Sonbhadra. On this project, BHEL was the only bidder.
