In a desert next to the border with Pakistan, Gautam Adanithe most controversial tycoon in Indiabuilds the largest renewable energy park in the world, a bet with which the richest man in Asia seeks to cement his fortune.
Under a scorching sun, thousands of workers build rows of solar panels, excavate the land that will house the wind turbines and unroll the cables that will power the system.
The renewable energy park will have a colossal area of 726 km2, equivalent to the size of New York.
According to plans, when the project is completed in 2027, it will generate 30 gigawatts of solar and electrical energy: 17 GW for Adani and the rest for other companies, enough to supply 18 million people.
The park seeks to exceed by three the production capacity of the Three Gorges Dam, the largest in the world, located in China.
The field will bevisible from space“, it states Adaniwho was briefly the second richest man in the world in 2022 with a fortune of $154 billion.
His critics say his success is largely due to Indian Prime Minister Narendra Modi.
The American investment company Hindenburg Research indicates that its conglomerate was accused of “blatant manipulation” of its shares and of having sustained accounting fraud during “decades”. Adani rejects all accusations.
The empire’s values fell by more than $150 billion, but the tycoon managed to recover most of it. Since then, the 61-year-old businessman has spent tirelessly on energy transition projects.
India is the third largest emitter of CO2 and the Modi government has positioned itself against the progressive abandonment of coal.
A “proud Indian”
The Khavda Renewable Energy Park is the jewel in the crown of Adani Green Energy Limitedin which the French company TotalEnergies acquired a 19.7% stake for US$2.5 billion in 2021.
In the commercial port of Mundra, one of the largest in India managed by the empire Adanithe essential material is manufactured for its offensive in the renewable energy sector.
“We are creating one of the world’s largest and most integrated renewable energy generation ecosystems for solar and wind energy”Wrote Gautam Adani on the social network X, where he describes himself as a “proud indian”.
India’s ambition is to create 500 gigawatts of renewable energy production capacity by 2030. The goal is to meet half of its needs.
Adani He stated that he would inject nearly US$100 billion into this energy transition.
However, India also plans to increase its coal-fired power production capacity and does not aim to be carbon neutral until 2070.
Ambitions
According to Ashok Malik, of the consulting firm Asia Group, the Adani group has “very solid assets” and ““It reflects India’s ambitions, hopes and strategy.”
“It makes a lot of sense for a company that is only involved in the Indian energy sector to start looking at clean, renewable energy to move away from coal, even if coal doesn’t disappear completely“, the expert told AFP.
The place is about 75 km from the nearest town and 6 km from the militarized border with Pakistan.
Projects like this usually have significant environmental costs, but environmentalist Mahendra Bhanani emphasizes that the park is far from the population and from places recognized for their biodiversity.
“Solar is better than many other polluting chemical industries”he declared.
Source: Gestion
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