Adani Enterprises Ltd.the flagship company of the Adani Group, on Wednesday signed an agreement with the Maharashtra government for an investment of Rs 50,000 crore to set up a 1 GW data centre.
Adani Group will invest Rs 50,000 crore over the next 10 years in setting up the data center, the Apples-to-Airport conglomerate announced on Wednesday.
On Wednesday, Adani Enterprises stock closed almost 3% lower at Rs 2,970.75.
The MoU was signed in the presence of Maharashtra Chief Minister Eknath Shinde and Adani Group Chairman Gautam Adani at the World Economic Forum 2024 in Davos, Adani Group said in a statement.
“The data center infrastructure, which will be installed in key locations such as Mumbai or Navi Mumbai and Pune, will be powered by renewable energy, which will enhance Maharashtra’s green energy infrastructure and provide direct employment and indirectly to 20,000 people. “It said.
The Adani Group also intends to make reputable distribution investments to power the proposed data center infrastructure.
The Maharashtra government is keen to promote information technology infrastructure and services and considers the proposed large-scale project to be economically and socially beneficial to the state.
Mumbai has quickly gone from a tiny share of renewable energy to a global leader in clean energy adoption in just a few years. Mumbai’s share of renewable energy now exceeds that of major global cities.
Mega projects like this have facilitated Mumbai’s renewable energy journey and align well with its broader sustainability goals, thereby contributing to India’s broader renewable energy goals .
By 2023, Adani Electricity Mumbai Ltd supplied up to 38% of Mumbai consumers’ electricity from renewable sources and aims to reach 60% by 2027.
