IHC invests $2b in Adani firms

This funding will support India achieve its clean energy targets.

Abu Dhabi-based investment firm International Holding Company PJSC (IHC) completed its $2b (R15,400 crore) investment into three companies under the Adani Group which will support India’s clean energy goals.

In a statement, Adani said IHC provided capital to Adani Green Energy Ltd., Adani Transmission Ltd. (ATL), and Adani Enterprises Ltd. (AEL), through the preferential allotment route.

Adani said IHC’s investment will support and accelerate the Group’s plan to supply India with 45-gigawatts (GW), or 9% of India’s non-fossil energy by 2030. India has a total electricity generation capacity of over 390GW, with renewables exceeding 100GW.

The country committed at the United Nations Climate Change Conference last year to bring its non-fossil fuel capacity to 500GW.

The investment will also help ATL’s transformational journey as its distribution arm, Adani Electricity Mumbai Limited plans to increase renewable energy penetration to 60% by financial year (FY) 2027 from 3% in FY 2021.

Meanwhile, AEL, through its wholly-owned subsidiary Adani New Industries Limited has committed to invest $50b over the next nine years to form a new green hydrogen vertical focused on the decarbonisation of industrial energy and mobility.

The company’s expansion is in line with its commitment to “broadening and diversifying” its investment portfolio, according to IHC CEO and Managing Director Syed Basar Shueb.

“There is no doubt that this transaction will directly and positively impact India's overarching ambition for long-term plans for clean energy,” Shueb said, adding that the transaction represents 4.87% of the total trade between the United Arab Emirates and India, which has reached $41b between 2020 and 2021.

Sagar Adani, executive director of Adani Green Energy Ltd., said the investment marks the further strengthening of India and UAE’s relationship.

“We share IHC’s strategic vision for India, Middle East and Africa as we embark on this inter-generational relationship,” he said.

Follow the link s for more news on

Adani Group

International Holding Company PJSC

Also Read

J&V Energy acquires stake in 180-MW solar project in PH

JERA sells stake in Thai solar project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit