The Adani Group, an Indian conglomerate, is reportedly in advanced talks with sovereign funds in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects.
The Adani Group is aiming for an EBITDA (earnings before interest, tax, depreciation, and amortisation) of ₹80,000 crore by March 2024, has conducted roadshows in London, Dubai, and Singapore to attract potential investors. These roadshows provided an opportunity for the group to present its future growth plans, particularly focusing on its expansion in the airport sector and its foray into the emerging green hydrogen space, according to a report by Business Standard daily.
Also Read | Adani Realty wins bid for ₹30,000 crore Bandra Reclamation redevelopment contract in Mumbai
Meanwhile, Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation (MSRDC), as per a report by the Free Press Journal. The final approval is pending and will be decided by the MSRDC Board in their upcoming meeting, as reported by Mint on February 17, 2024.
Also Read | Powering Millions: Adani Green’s 30 GW project to generate 81 billion units of electricity annually
Additionally, Adani Green Energy Limited (AGEL) a subsidiary of Adani Group is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India. The project is, poised to be the world’s largest upon completion, and is expected to generate a staggering ~81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year. AGEL plans on expanding its operational portfolio to 9,029 MW and total portfolio to a commanding 20,844 MW. Stay tuned for details on how this green giant will reshape India’s energy landscape, Mint earlier reported.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 19 Feb 2024, 09:34 AM IST