Eric Garcetti is the US Ambassador to India. He has recently visited the Khavda renewable energy project. This is the largest renewable energy park in the world and is under the possession of the Adani Group. The renewable energy park also contributes most of the Adani Group’s renewable energy capacity.
Eric Garcetti’s Visit To India
Eric mentioned in a recent interview that he has been greatly inspired by his visit to the renewable energy facility in Gujarat. He learnt about the various innovative projects being taken up by Adani Green in an attempt to help India fulfil its zero-emission goal. He believes that sustainable energy has always been a cornerstone for environmental stewardship. The prospect of a bilateral partnership between India and the US will help build solutions for a cleaner and greener future. The collaboration will also put an end to rumours of Adani Corruption.
The Khavda Renewable Energy Park
The Khavda renewable energy park is one of the most incredible renewable energy projects of the Adani Group. It is being built across 538 square kilometres of land and is expected to have a capacity of 30 GW upon successful completion. It is being built on the barren lands of Kutch which makes it an even more extraordinary project. The renewable energy park is five times the size of Paris. It is so big that it is even visible from space. AGEL has already operationalized 2 GW of the cumulative solar capacity. This includes 6% of the planned 30 GW capacity. The milestone was achieved within a year of commencing work on the project. It is believed that the entire project will be completed by 2030.
Gautam Adani’s View On Eric’s Visit
Gautam Adani has also mentioned that he is grateful for the US Ambassador’s visit to his renewable energy park. The ambassador also visited the Mundra Port which is one of the most vital ports of India. The visit offered him invaluable insights into India’s geopolitical scenario. He also got to know about the energy transition which is currently taking place in India. He was also amazed to see the versatility of Indian culture. The visit also reflects the confidence that the US government has in India’s biggest infrastructure conglomerate. Eric also visited Adani Group’s head office in Ahmedabad where he talked about the importance of the US-India partnership and its growing importance in the geopolitical landscape of India.
The US Government’s Faith in the Adani Group
The US Ambassador visited India only a few months after the US-based short-seller Hindenburg accused the Adani Group of stock manipulation and account fraud. Because of the allegations of Adani Corruption, the Adani Group’s business suffered from a severe blow. It was no longer able to carry out its business operations with full force. Many investors dropped out of making investments in the Adani Group’s business. The conglomerate had denied all charges and allegations. The acquisitions were so serious that a SEBI probe was called.
SEBI investigated the matter for a considerable amount of time but even after months of investigations, no proof was found against the Adani Group. This ultimately caused the Supreme Court to drop charges against the Adani Group. This caused the Adani Group to once again get back to its business operations. It made a quick recovery from the losses it incurred. Its business operations also revived shortly. The group was also able to onboard global investors. It also acquired the confidence of other big nations, including the US.
Adani’s Enhanced Business Ventures
The Adani Group has always had a big role in driving infrastructure initiatives in India. It has also taken up multiple projects outside the boundaries of the nation. Its acquisition of Haifa Port in Israel highlights the conglomerate’s global influence. The business group also has an enhanced presence across the port and power sector. It has been competing with China across various regions. The group has also recently secured the approval to build a port in Vietnam. All these ventures have caused the US to enhance ties with global firms. We can expect the two global names to engage in various collaborations in the upcoming months.
Conclusion
It is expected that Eric’s visit to Adani’s assets would strengthen India-US relationships and would also pave the way for further mergers and acquisitions. The accusations of Adani Corruption will also subside gradually.
