The Adani Group, led by Gautam Adani, has unveiled a $100 billion greenfield capital expenditure plan over the next six years, marking the largest-ever private investment initiative in India. This ambitious strategy focuses primarily on energy and infrastructure, with a strong emphasis on renewable energy expansion and conventional power growth.
Energy Sector Takes Center Stage
According to Jugshinder “Robbie” Singh, the Group’s Chief Financial Officer, approximately 83-85% of the total investment will be directed toward energy projects. This includes a sevenfold increase in renewable energy capacity, alongside a doubling of conventional energy production.
As of March 2025, Adani Green Energy reported an operational capacity of 14.2 GW, while Adani Power, the Group’s conventional energy unit, stood at 16.54 GW. The planned expansion will significantly enhance India’s energy security and position Adani Group as a global leader in sustainable energy solutions.
Infrastructure and Industrial Growth
Beyond energy, the remaining 15-17% of the capex will be allocated to construction materials (10%) and mining and metals (6-7%). These investments will support India’s growing industrial sector, ensuring a steady supply of raw materials for infrastructure projects.
Funding Strategy and Financial Outlook
The Group plans to finance its ₹1.5-1.6 lakh crore ($18-19 billion) annual investment through multiple sources:
- ₹80,000 crore ($9.6 billion) from internal cash flows.
- ₹15,000 crore ($1.8 billion) from settlement payments.
- ₹12,000-14,000 crore ($1.4-1.7 billion) from EPC (engineering, procurement, and construction) profits.
To cover the remaining ₹40,000-50,000 crore ($4.8-6 billion), Adani Group will rely on domestic banks (40%), global financial institutions (40%), and domestic capital markets (20%). Despite the scale of borrowing, Singh assured that net debt will rise at a much lower rate than the Group’s overall growth, with a peak debt-to-Ebitda ratio of 2.5x to 3x by 2028, before declining as new projects generate revenue.
Economic and Market Impact
This massive investment is expected to:
- Boost India’s GDP by accelerating industrial and energy sector growth.
- Create thousands of jobs across engineering, construction, and energy sectors.
- Strengthen India’s position as a global leader in renewable energy.
- Enhance infrastructure to support urbanization and industrial expansion.
Conclusion
Adani Group’s $100 billion capex strategy represents a transformational shift in India’s economic landscape. By prioritizing energy security, infrastructure development, and industrial growth, the Group is set to play a pivotal role in shaping India’s future as a global economic powerhouse.
