Indian mining giant Adani Enterprises Ltd. is looking to invest in solar energy in Australia after its plans to build the countrys biggest coal project were delayed, Bloomberg reported on Wednesday.
The company, controlled by billionaire Gautam Adani, is looking to develop solar projects in the states of Queensland and South Australia. Adani is looking to partner with companies from China, Europe and Canada in developing solar projects in the country.
Adani has not given up on its ambitious plans to develop the Carmichael mine and rail project in Queensland, however. It has said any investment in Australian solar would be in addition the mining project, Bloomberg added.
The companys coal project plans, which include the use of a port near the Great Barrier Reef, have faced loud opposition from Australian environmental groups. In addition, the coal sector is facing increasingly hard times as countries move to cut greenhouse gas pollution and embrace alternative energy sources.
In India, Adani operates a renewable energy unit that is looking to build 10 GW of PV capacity by 2022.
Adani recently took part in a 50 MW solar auction in the Indian state of Maharashtra, but since the company was in the end the sole bidder, the Solar Energy Corporation of India (SECI) cancelled the tender and announced it would hold a new auction.
Industry watchers say reductions in feed-in tariffs have made solar auctions increasingly less interesting for solar developers in India.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.