Billionaire Gautam Adani-led Adani Group has floated a new subsidiary ANIL (Adani New Industries Ltd) which will handle and operate its renewable energy (RE) business. ANIL and Mukesh Ambani’s Reliance Industries are set to change the Indian RE sector.
All about ANIL
Short for Adani New Industries Ltd, the new subsidiary of Adani Enterprises will undertake the business of developing and operating projects for the synthesis of low carbon fuels and chemicals, generation of low carbon electricity and the manufacture of key components/material for projects including generation of green hydrogen, related downstream products, electricity generation, manufacture of wind turbines.
ANIL will also manufacture solar modules, batteries, electrolyzers, associated upstream manufacturing as well as ancillary industries and undertake all such activities associated therewith in this regard, the company added in a filing.
Adani Group already is the world’s largest solar power developer. Adani Green Energy Ltd (AGEL) is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest USD 20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23.
Meanwhile, Adani Transmission Ltd (ATL), India’s largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3 per cent to 30 per cent by FY 2023 and to 70 per cent by FY 2030.
What Mukesh Ambani is doing
Billionaire Mukesh Ambani’s Reliance Industries Ltd has floated Reliance New Energy Solar Ltd (RNESL) to operate its new energy business.
RNESL has made a wave of acquisitions and strategic investments to give shape to its green energy business that spans solar, battery and hydrogen investments. The direction largely has been towards acquiring or gaining access to cutting-edge technology that can reduce the cost of renewable energy production, especially in solar energy generation.
It has put USD 1.2 billion in partnerships with REC, NexWafe, Sterling and Wilson, Stiesal and Ambri to acquire the expertise and technology portfolio to start to build a fully integrated end-to-end renewables energy ecosystem through solar, batteries and hydrogen. It has recently invested in the British battery maker Faradion Ltd for an enterprise value of GBP 100 million. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
Reliance is targeting solar manufacturing of 100 GW and green hydrogen costs of USD 1 per kg by 2030. It plans to spend USD 10 billion on the new energy business over the next 3 years towards achieving these targets.
Previously, Reliance announced the acquisition of REC Solar Holdings from China National Bluestar for USD 771 million.
Ambani’s firm is investing USD 45 million in NexWafe to jointly develop and commercialise at scale monocrystalline green solar wafers and is acquiring 40 per cent in leading solar EPC and O&M provider Sterling and Wilson Solar Limited (SWSL).
It has also signed a pact with Norway’s Stiesdal for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.
Another USD 50 million has been invested in US-based Ambri to develop and commercialise Ambri’s liquid metal batteries for energy storage.
Reliance is also in discussion with Ambri to set up a large-scale battery manufacturing facility in India.
Ambani at the company’s shareholders’ meeting in June announced its plan to invest USD 10 billion in low carbon energy, which marks another chapter in the transformation of the company.
Over the next 3 years, Reliance will spend Rs 60,000 crore to construct four ‘Giga factories’ to make integrated solar PV modules, electrolysers, fuel cells and batteries to store energy from the grid.
The site of these plants will be located at the new 5,000 acres Green Energy Giga Complex in Jamnagar. An additional Rs 15,000 crore will be used for investments across the value chain, technology, and partnerships for the new energy business.
https://m.economictimes.com/industry/renewables/india-is-set-for-an-anil-ambani-revolution/amp_articleshow/88804639.cms
