Skip to content

Adani Boosting Coal Assets Despite Vow to Be Carbon Neutral

  • Group is doubling its coal-fired power capacity: Market Forces
  • Adani Green became the world’s top solar power company in 2020
Gautam Adani

Gautam Adani

Photographer: Adeel Halim/Bloomberg

Updated on

Gautam Adani is increasing his footprint in fossil fuels, new research shows, even as the Indian billionaire vows to make his ports-to-power conglomerate carbon negative.

The Adani Group is doubling its coal-fired power capacity to 24 gigawatts, plans to own, develop or operate new coal mines with a combined capacity of 132 million tons a year, and is pursuing oil and gas projects, including a partnership with France’s TotalEnergies SE, according to a report published Monday by environmental nonprofit Market Forces. The Australia-based organization, a vocal critic of Adani’s Carmichael coal project in Queensland, said its analysis is based on data from across several Adani holdings.