- IHC invests $2 billion in Adani’s Portfolio firms
- IHC investments aid Adani’s 45 GW 2030 goal
- India’s overall power generating capacity exceeds 390 GW, with over 100GW from renewables.
International Holding Company (IHC), an Abu Dhabi-based global strategic investment organization, has invested Rs 15,400 crore ($2 billion) in three Adani portfolio firms.
Adani Group announced Adani Green Energy Limited, Adani Transmission Limited, and Adani Enterprises Limited. Through the preferential allotment process, IHC has contributed capital to Adani Green Energy Ltd, Adani Transmission Ltd, and Adani Enterprises Ltd, all listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.
“This business expansion aligns with IHC’s commitment to diversifying and broadening its investment portfolio. There is no question that this acquisition would directly impact India’s overall goal of long-term clean energy plans, “IHC’s CEO and Managing Director, Syed Basar Shueb, stated.
India’s overall power generating capacity exceeds 390 GW, with renewables accounting for more than 100 GW. The Indian government promised this year at the United Nations Climate Change Conference that India’s non-fossil fuel capacity would be 500 GW by 2030. IHC’s investment will help Adani Group achieve its goal of supplying the country with 45 GW (9% of non-fossil energy) by 2030. “We are ecstatic to have completed this historic deal with IHC. We admire IHC’s foresight as a strategic investment in sustainable energy, healthcare, food, infrastructure, and the UAE’s Energy Transition, “Adani Green Energy Ltd’s Executive Director, Sagar Adani, stated.
Through its wholly-owned subsidiary Adani New Industries Limited, Adani Enterprises Limited has invested $50 billion over the next nine years, forming a new green hydrogen vertical focused on decarbonizing industrial energy and mobility. (ANI)