Gautam Adani meets British Prime Minister Boris Johnson and pledges $ 70 billion for “energy transition”

The chairman of the Adani group, Gautam Adani, met British Prime Minister Boris Johnson on Tuesday at the Global Investment Summit. After the meeting, the Indian business mogul announced that the Adani Group will commit $ 70 billion to the energy transition through solar, wind and water in its attempt to engage in global action against the change. climate.

Gautam Adani also thanked the UK government and the Department for International Trade for this opportunity. Speaking to Twitter, he shared a photo from his visit to the Global Investment Summit in London. In the photo, group chairman Adani was seen chatting with Boris Johnson.

According to an official statement from the Adani Group, the conglomerate has pledged to invest $ 50 billion to $ 70 billion in the renewable energy value chain over the next decade. The group has committed 70% of its planned investments in the energy transition until 2030.

“Green policies and climate action not based on equitable growth will struggle in the long run. We are putting money where our mouth is,” Gautam Adani said in a statement released by the Adani Group. He added that the group’s portfolio companies are leading the way with investment plans.

World Investment Summit

The Global Investment Summit was held in London on October 19 to encourage foreign investment in Britain. Investors pledged nearly £ 10 billion at the summit, according to an official UK government statement. The UK PMO’s statement said: “At least 30,000 new jobs will be created in the UK with £ 9.7 billion in new foreign investment.”

Nearly 18 new agreements were signed, including the one signed by the Adani Group to support green growth. These include sectors such as wind and hydrogen power, sustainable homes and carbon capture and storage, cementing the UK’s climate leadership for COP26 and beyond, the UK government said.

After the summit, the UK Prime Minister said: “Major global investors have seen the UK’s enormous potential for growth and innovation in industries of the future. The fantastic £ 9.7 billion in new investment we secured today will fuel our economic recovery. , creating thousands of jobs and helping to level up across the country. “

He added: “This is just the start. We will see new partnerships for green growth forged at today’s World Investment Summit as we look to COP26 and beyond. “

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