Adani Enterprises Ltd, the principal entity of Adani Group, has committed to a significant investment agreement with the Maharashtra government. The conglomerate will channel Rs 50,000 crore over the forthcoming decade into establishing a 1 GW data centre. This announcement came on a day when Adani Enterprises’ shares witnessed a marginal dip of nearly 3% to Rs 2,970.75 at the close of trading.

The Memorandum of Understanding (MoU) for this venture was formalised at the World Economic Forum 2024 in Davos. The signing ceremony was graced by Maharashtra’s Chief Minister, Eknath Shinde, and Adani Group’s Chairman, Gautam Adani. According to Adani Group‘s statement, this initiative will be centred around Mumbai, Navi Mumbai, and Pune. The data centre will primarily utilise renewable energy sources, aligning with Maharashtra’s green energy aspirations. This project is expected to generate both direct and indirect job opportunities for approximately 20,000 individuals.

Furthermore, Adani Group has plans for substantial distribution investments to ensure adequate power supply for the data centre infrastructure. The Maharashtra government, keen on fostering IT infrastructure and services, views this hyper-scale project as a valuable economic and social asset.

Mumbai’s rapid shift towards renewable energy has established it as a leader in sustainable energy use globally. This development has been instrumental in the city’s renewable energy journey, aligning with India’s wider renewable energy objectives. In 2023, Adani Electricity Mumbai Ltd achieved the milestone of providing 38% of its electricity to Mumbai’s consumers from renewable sources, to increase this to 60% by 2027.

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