Adani's Davos Deals: Maharashtra And Telangana MoUs To Pave Way For Cutting-Edge Data Centre And 'Green' Growth

Adani Enterprises Limited, the flagship company of the Adani Group, and the Government of Maharashtra on Wednesday signed a memorandum of understanding (MoU) to set up 1 GW hyperscale data infrastructure in the state at an investment of Rs 50,000 crore, over 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 in Davos.

In Davos, the Adani portfolio of companies and the government of Telangana also signed four memorandums of understanding (MoUs) for investment of over Rs 12,400 crore.

These were signed in the presence of the Chief Minister of Telangana Revanth Reddy, and Gautam Adani.

The MoUs will help build the foundations for economic growth of Telangana that is green, sustainable, inclusive and transformative.

For Maharashtra, the data centre infrastructure, which will be set up in key locations such as Mumbai or Navi Mumbai and Pune, will be powered by renewable energy, which will enhance the green energy infrastructure in the state and provide direct and indirect employment to 20,000 people.

The Adani Group also intends to make deemed distribution investments to power the proposed 1 GW hyperscale data center infrastructure.

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

Mumbai has rapidly transformed from having a minimal share of renewable energy to becoming a global leader in clean energy adoption in just a few years. Mumbai's renewable energy share now surpasses that of major global cities. Mega projects like this have facilitated Mumbai's renewable energy journey and aligns well with its broader sustainability goals contributing to India's broader renewable energy targets.

In Telangana, Adani Enterprises Limited (AEL) will invest over Rs 5,000 crore in a 100 MW data centre, which would be powered by renewable energy, over the coming 5-7 years. AEL will work closely with local MSMEs and startups to develop a globally competent supplier base for the project. It would provide employment, both direct and indirect, to 600 people.

Adani Green Energy Limited (AGEL) will invest over Rs 5,000 crore to set up two pump storage projects (PSPs)-850 MW at Koyabestagudem and 500 MW at Nacharam.

Ambuja Cements will invest Rs 1,400 crore to set up a 6 MTPA cement plant in the next five years. The unit would be set up across 70 acres and would significantly enhance Ambuja’s capability. It will provide employment for over 4,000 people, both directly and indirectly.

Adani Defence Systems and Technologies Limited will invest over Rs 1,000 crore in 10 years to set up a comprehensive ecosystem for the research, development, design, manufacturing and integration of counter drone and missile systems at the Adani Aerospace Park.

The ecosystem developed through these projects would significantly enhance the defence capability of India and would provide employment to over 1,000 people.