Davos 2024: Adani Signs MoU Worth Rs 50,000 Crore With Maharashtra Government

Adani Enterprises Limited and the Government of Maharashtra today signed a Memorandum of Understanding (MoU) to set up 1 GW hyperscale data infrastructure. There will be an investment of Rs 50,000 crore in the state in the next 10 years. 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 here.

Data centers to be set up in different key locations

The data center infrastructure, to be set up in key locations like Mumbai, Navi Mumbai and Pune, will be powered by renewable energy, enhancing green energy infrastructure in Maharashtra and providing direct and indirect employment to 20 thousand people. Adani Group also intends to make deemed investment distribution to power the proposed 1 GW hyperscale data center infrastructure.

The Government of Maharashtra is interested in promoting information technology related infrastructure and services and considers the proposed hyperscale project to be economically and socially beneficial for the state.

Mumbai becoming global leader in adopting clean energy

In just a few years, Mumbai has rapidly become a global leader in adopting clean energy with minimal share in renewable energy. Mumbai’s renewable energy share now exceeds that of major global cities. Such mega projects have facilitated Mumbai’s renewable energy footprint and align well with its sustainability goals while contributing to India’s broader renewable energy goals.

In 2023, Adani Electricity Mumbai Limited has successfully met 38% of the power requirements of Mumbai consumers from renewable sources and is committed to reach the target of 60% by 2027.

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Information about Adani Portfolio

Headquartered in Ahmedabad, the Adani portfolio is the largest and fastest growing portfolio of diversified businesses in India, including logistics (ports, airports, logistics, shipping and rail), resources, power generation and distribution, renewable energy, gas and Interested in infrastructure. Agriculture (commodities, edible oils, food products, cold storage and grain silos), real estate, public transport infrastructure, consumer finance and defence, and other sectors. Adani attributes its success and leadership position to its core philosophy of ‘nation building’ and ‘growth with goodness’ – a guiding principle for sustainable development. The Group is committed to protecting the environment and improving communities through its CSR programs based on the principles of sustainability, diversity and shared values.