Mumbai: The Qatar Investment Authority (QIA) has agreed to invest Rs 3,200 crore in Adani Electricity Mumbai Limited. However, the agreement comes with a green stipulation.
According to the AEML, QIA has asked them to ensure that over 30 per cent of the electricity supplied is sourced from solar and wind power plants by 2023.
Besides this, both have agreed to various other green initiatives to combat climate change and facilitate the transition to a sustainable, low-carbon economy.
Adani Electricity said it serves over three million consumers spread across 400 square km in Mumbai and its suburbs, meeting close to 2,000 MW of power demand. Group chairman Gautam Adani said, “We are delighted to embark on this partnership.
Together, we will continue to work towards improving the reliability of supply and enhancing consumer satisfaction for over 3 million AEML consumers served in Mumbai.’’