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Indian billionaire Gautam Adani is building the world’s largest renewable energy park deep in the desert in an effort to keep his fortune alive as the coal industry faces future challenges.
Adani, who once became the world’s second-richest man, has partially recovered after the company was accused of a short sale by the United States and wiped out $150 billion in market value. Scheduled for completion in 2027, the $2.3 billion Khavda Park covers an area of 726 square kilometers and will generate 30 gigawatts of electricity to power 18 million homes. Adani’s pledge to invest US$100 billion in the energy transition is seen as a reflection of India’s ambitions.
India plans to reach 500 GW of renewable energy by 2030, with Adani campuses accounting for a quarter. Despite the criticism Adani faces, his renewable energy initiative is seen as a reasonable investment in clean energy.
(Source: AFP Image source: freepik)
