Adani Group Merges Subsidiaries to Boost Green Energy Push

The Adani Group has merged 2 of its subsidiaries with Adani New Industries Ltd, a company focused on green hydrogen and wind turbine manufacturing. 

According to a stock exchange filing on October 02, 2024, Adani Infrastructure Private Limited and Mundra Solar Technology Limited have been combined into Adani New Industries Limited, which is fully owned by the group’s main firm, Adani Enterprises Ltd.

Adani Infrastructure and Developers is a real estate company involved in building and developing both thermal and solar power projects. It also provides various services, including engineering, project management, and commissioning. Mundra Solar Technology, which is less than 3 years old, focuses on the production and distribution of electricity.

Adani New Industries Ltd (ANIL) is a subsidiary of Adani Enterprises Ltd and specialises in low-carbon projects. It works on green hydrogen initiatives and manufactures wind turbines, solar modules, and batteries. ANIL operates globally, serving industries like energy, transportation, and logistics.

According to a July report by CARE Ratings Ltd, Adani has a facility capable of producing 4 GW of solar PV modules, along with backward integration for 4 GW of solar PV cells and 2 GW of ingots and wafers. In the wind segment, the company also manufactures wind turbines. ANIL is expanding its production capabilities to include key solar components such as solar glass, aluminium frames, and backsheets.

French energy company TotalEnergies owns a 25% stake in ANIL, while Adani Enterprises Ltd holds the remaining shares.

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