Adani Group to invest ₹624 billion to set up data centres in Maharashtra, Telangana

livemint.com:

₹50,000 crore over the next 10 years to set up a 1 GW data centre in Maharashtra. The apples-to-airport conglomerate will invest ₹624 billion in Maharashtra and Telangana as a part of its ₹7-trillion expenditure plan for the next decade, Reuters reported.

Adani Enterprises Ltd, the flagship company of the group, and the Maharashtra government signed a memorandum of understanding (MoU) for setting up the 1 GW (gigawatt) hyperscale data infrastructure. ALSO READ: Adani-Hindenburg Case Verdict: Adani Group stocks rally up to 12%; overall m-cap jumps over ₹15 lakh crore “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," it said in a statement.

ALSO READ: Adani Enterprises raises stake in media agency IANS "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 Maharashtra, and provide direct and indirect employment to 20,000 people," the Adani Group was quoted by PTI as saying. 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.

ALSO READ: Adani Group to provide 350 sq ft flats in Dharavi slums, 17% larger than typical projects Mega projects like this have facilitated Mumbai's renewable energy journey and align well with its broader sustainability goals contributing to India's broader renewable energy targets. Mumbai's renewable energy share now surpasses that of major global cities, PTI reported.