Adani group’s claim creates stir in Beijing

Rejects media report claiming alliance with Chinese companies

Mumbai (Team Newsbuddy): Adani Group has completely rejected the media report which claimed that it is exploring the possibility of an alliance with Chinese companies BYD and Beijing Weilian New Energy Technology in the field of battery manufacturing and clean energy technology. Adani Enterprises Limited, the flagship company of Adani Group, clarified in a notice given to the stock market that the reports of alliance with Chinese companies are baseless and false. In a statement, Adani Group clearly said, “Adani Group is not exploring the possibility of any kind of collaboration with BYD for battery manufacturing in India. Similarly, we are not in any discussion for any kind of partnership with Beijing Weilian New Energy Technology. Adani Group dismisses reports The statement further said that some reports claimed that group chairman Gautam Adani is ‘personally leading discussions’ with BYD officials to further their efforts in battery manufacturing and clean energy in India.

However, Adani Group already has a vast portfolio of clean energy, from solar module manufacturing to wind power equipment and green hydrogen. The group is expanding its solar module manufacturing to 10 gigawatts per year and wants to almost double its wind turbine manufacturing capacity to 5 gigawatts per year. The group is also considering setting up a facility for manufacturing electrolysers used in the production of green hydrogen.

Target of investing 1000 billion in the next 5 years It is worth noting that Adani Group has set a target of capital investment of 1000 billion (1 lakh crore) in the next five years. It is believed that this will bring about a radical change in the infrastructure of the country. Adani Group’s business spans across thermal and renewable power generation, transmission, distribution, LNG, PNG, CNG, LPG, battery storage, hydrogen trucks, EV charging stations, pumps, hydro and mining. Additionally, it is India’s second largest cement manufacturer, and is also active in the aerospace, defense, data center and real estate sectors.