June 30, 2021 Read More →

Battle of the billionaires: India’s richest set sights on renewable energy sector


India’s renewable energy sector is set to become a battleground for the country’s top billionaires.

On June 24, when India’s richest man, Mukesh Ambani, announced his clean energy business, many heads turned to the country’s second-wealthiest man Gautam Adani who has had a strong presence in the renewables space for many years. Everyone was keen to know what Adani’s next moves will be to achieve his ambition of becoming India’s largest clean energy player by 2030.

The share price of Adani Green Energy, the renewables business of the Adani Group—which has gone up by around 850% over the last year—fell following Ambani’s announcement, perhaps due to fears that the company’s future growth would be under pressure.

[Niharika Sharma ] 

More: Ambani versus Adani: Who’ll win India’s renewable energy battle? — Quartz India 

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