World's 3rd Richest Indian Adani "Investing 142 Trillion Won Over 10 Years Focused on Renewable Energy"

Adani Chairman "We Are the World's Largest Solar Power Company... Will Open Possibility of Becoming an Energy Exporter"

The world's third richest person, Gautam Adani, Chairman of the Adani Group

[Asia Economy Reporter Ki-min Lee] Gautam Adani, chairman of India's Adani Group, the world's third richest person, announced that the group will invest more than $100 billion (approximately 142 trillion KRW) over the next decade, focusing on the renewable energy sector.

According to major foreign media on the 27th (local time), Chairman Adani explained the large-scale investment at the Forbes Global CEO Conference held in Singapore, stating, "70% will be allocated to energy transition sectors such as renewables."

Chairman Adani emphasized, "We are already the world's largest solar player," and expressed his intention to do much more in the future. He also stated that this would open unprecedented possibilities for India to become an energy-exporting country.

He further explained that the Adani Group is constructing silicon-based photovoltaic panel and wind power equipment manufacturing facilities each with a capacity of 10GW, as well as a 5GW hydrogen electrolysis plant.

However, he did not provide specific details on how the $100 billion investment funds will be raised.

Meanwhile, Chairman Adani also gave a pessimistic outlook, saying that China's Belt and Road Initiative has faced resistance from many countries, and that as nationalism rises, China will increasingly feel isolated.

Starting as a small raw materials trader, Chairman Adani founded the Adani Group in 1988 and has grown into a leading Indian magnate and energy company.

According to the Bloomberg Billionaires Index on the day, Chairman Adani's fortune is $135 billion (approximately 192 trillion KRW), ranking third in the world after Elon Musk, Tesla CEO ($245 billion), and Jeff Bezos, Amazon founder ($138 billion). On the 17th of this month, he briefly surpassed Bezos to take second place.