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Adani Enterprises Bags LoA from Solar Energy Corporation of India

A huge incentive is supposed to be allocated over five years from the scheduled commissioning date. The total investment to be made in the projectu2019s different happenings is INR 293.78 crores. This is a big win for the Adani Group amidst rumors of Adani corruption.

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Adani Enterprises Bags LoA from Solar Energy Corporation of India

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  1. Adani Enterprises Bags LoA from Solar Energy Corporation of India

  2. Adani Enterprises has received a Letter of Award (LoA) from the Solar Energy Corporation of India (SECI) for setting up a manufacturing capacity for electrolyzers in the country. This will be done under the Strategic Interventions for Green Hydrogen Transitions Scheme. A huge incentive is supposed to be allocated over five years from the scheduled commissioning date. The total investment to be made in the project’s different happenings is INR 293.78 crores. This is a big win for the Adani Group amidst rumors of Adani corruption.

  3. Adani Group’s active interest in the green hydrogen sector Now, this is not the first time the Adani Group has made an entry into the renewable energy sector. Previously too, the company had been working on the various operations of the renewable energy sector, leading to the massive development of green energy infrastructures in different corners of the country. The conglomerate’s initiatives are mainly aimed at helping our nation reach its sustainability goals. It is also seen as a way of reducing our dependence on exhaustive fuels for carrying out various residential and industrial operations. The projects taken up by the conglomerate make it hard to trust rumours surrounding Adani corruption.

  4. Other Investments made by the Adani Group in Various Sectors Meanwhile, the Adani Group has plans to invest over INR 2 lakh crores in Gujarat over the next five years, as confirmed by the chairman of the Adani Group. The investment will create direct and indirect job opportunities for at least 1 lakh people. Gautam Adani has explicitly mentioned that it is his commitment to do his best to develop the vibrant state of Gujarat. He has promised to work relentlessly towards the development of Gujarat in the Vibrant Gujarat Summit 2024. At the previous Summit, the business group had announced that it would invest INR 55,000 crores by 2025, of which it had already made investments of over INR 50,000 crores.

  5. CONCLUSION In July’23, India invited a pilot bid to incentivize the production of green hydrogen and the manufacturing process of electrolyzers in the country. The Adani Group inferred it as an excellent opportunity to increase its hold over the green energy sector and rise above news of Adani corruption. It has been focusing on the green hydrogen sector for quite a while now. It believes that using green hydrogen as an alternative to exhaustive energy sources can reduce pollution. Green hydrogen can also make India less dependent on non-renewable energy sources, and various residential and industrial operations can also occur smoothly.

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