Adani Green plans to set up 45 gigawatts of renewable energy capacity by 2030.
Adani Green Energy Ltd. has set fiscal 2025 as the target to achieve the top 10 position in the world for environmental, social, and governance benchmarks for electric utilities. The renewable energy producer has already taken steps, including the single-use plastic-free operating capacity that it achieved in fiscal 2022, the firm said in its latest analyst presentation. It plans to have 100% water-neutral operating capacity for all power plants across locations by FY25.
The company has saved 1.1 times the total amount of water it used and is certified water-positive by DNV—a Norwegian certification company—for all operating power plants having a capacity of 200 megawatts. The potential rainwater harvested and recharged as of fiscal 2023 was 1,93,389 cubic metres per year, as compared with a total freshwater intake for consumption of 172,201 m3 per year.
The company also aims to have a zero waste-to-landfill operating capacity of 100% by fiscal 2025. It will strive to become a company with zero net loss of biodiversity during the period, it said. The key focus areas for the environment will be the reduction of carbon footprints, including decarbonisation of the grid through renewable energy generation, support for new and more efficient renewable
technologies, and reduction of carbon emissions from business activities, the company said.
The focus will equally be on natural resource conservation and biodiversity management, such as reductions in freshwater withdrawal, waste management, and the circular economy.
Adani Green has cumulatively avoided around 36.70 million metric tonnes of carbon dioxide emissions till fiscal 2023, as against 0.14 MT in FY16. The carbon dioxide avoided in FY23 alone was 13.50 MT, as compared with 8.60 MT in fiscal 2022.
New ESG Targets To Be Adopted
To meet its target, the company plans to conduct climate change risk assessments for all operational locations in alignment with the task force on climate-related financial disclosure framework in FY24, it said.
In the current fiscal, the renewable energy firm will establish internal carbon pricing at Adani Green Energy-level and conduct nature-related assessments for all operational locations—in alignment with the task force on nature-related financial disclosures framework—by FY25.
In FY26, the company will achieve water-positive status for 100% of its operational locations. The ESG evaluation will be completed by FY26, while all important manufacturing suppliers will be engaged through the greenhouse gas suppliers’ engagement programme for decarbonisation of the value chain, the company said.
Renewable Energy Capacity Target Of 45 GW By 2030
The company will set up 45,000 MW of renewable energy capacity by 2030. As of now, Adani Green has a portfolio of 20,434 MW, out of which 8,200 MW are commissioned and 12,200 MW are under or near construction.
The company has 86% power purchase agreements with sovereign counterparties, such as NTPC Ltd. and Solar Energy Corp. Around 97% of the portfolio is on long-term contracts with a 25-year fixed tariff. The average portfolio tariff for the projects is Rs 2.97 per unit, it said.
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bqprime published this content on 21 Jun 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 Jun 2023, 04:21 PM IST .
