Billionaire Gautam Adani on Tuesday said that his group would invest $20 billion (around Rs 1,50,000 crore) over the next 10 years in renewable energy generation, component manufacturing, transmission and distribution. Unveiling his infrastructure conglomerate’s green vision at JP Morgan India Investor Summit today, the Adani Group chairman said that his group would produce the world's cheapest green electron.

Mr Adani said that the port-to-energy conglomerate planned to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025 and spend over 75 per cent of capital expenditure in green technologies until 2025.

“The Adani Group’s integrated value chain, our scale and experience put us on the path to be the producer of the least-expensive green electron anywhere in the world,” added Mr Adani.

Mr Adani’s announcement came weeks after Mukesh Ambani, India’s richest man and Reliance Industries (RIL) chairman, had announced an investment of Rs 75,000 crore (about $10 billion) in clean power and hydrogen fuel over three years.

Many have seen Mr Ambani’s announcement as the petrochemical czar’s direct competition with Mr Adani, the country’s second-wealthiest man, who has had a strong presence in the renewable energy segment for many years.

This month, Mr Ambani had said that hydrogen could be made from renewable energy at $1 per kilogram in a decade’s time. Hydrogen has no carbon emissions and can be used as fuel in industry and automobiles.

The Adani Group currently has 4,920 mw of operational renewable energy generation capacity and another 5,124 mw under execution. It has a confirmed pipeline of 9,750 mw and another 4,500 mw where it is likely to win contracts.