Indian coal magnate Gautam Adani becomes Asia's richest person after solar energy
Indian coal mining magnate Gautam Adani has become Asia's richest person thanks to a push towards green energy, he increased his fortune to $88.5 billion. Adani has overtaken fellow countryman Mukesh Ambani to enter the top 10 richest people in the world, according to data from Forbes and Bloomberg, after seeing his personal fortune rise by $12 billion over the past year. Among the mega-riches Adani has crossed to reach the global top 10 is Facebook founder Mark Zuckerberg, who slipped off the table in multiple places last week after losing $30 billion of his personal fortune. Protesters wearing the masks of Ursula von der Leyen, Olaf Scholz and Emmanuel Macron gather around a fake Green Deal grave in Brussels, Belgium. The EU includes gas and nuclear energy in the "green" investment guide. peaks of the world's billionaires is due to its expansion of green investments. His Adani Group controls India's largest port of Mundra in the Gujarat tycoon's hometown and also owns 74% of Mumbai International Airport.But its push into green energy has paid off over the past year, with publicly listed company Adani Green Energy now its most valuable after its share price nearly doubled in the past 12 months.
The group is investing $70 billion in green energy projects by 2030 with the goal of becoming the world's largest producer of renewable energy. Adani found his ambitions in line with those of India's Prime Minister and fellow Gujarati, Narendra Modi, who harnessed India's huge solar power uptake to set more ambitious carbon reduction targets during the weather conference in Glasgow in November. India expects to reach the target of 500 gigawatts of non-fossil fuel capacity by 2030 and that 50% of power capacity will come from renewable sources by then. Adani and the Indian Solar Revolution includes French oil company Total, which last year bought 20% of Adani Green Energy. investors,” Deepak Jasani, head of retail research at HDFC Securities Ltd., a Mumbai-based brokerage, told Bloomberg.
The company encountered little difficulty in raising funds to expand. Despite greener prospects for Adani, the group is still operating the gigantic Queensland mine in the face of fierce resistance from a rainbow coalition of fossil fuel activists, biodiversity advocates and indigenous groups. The bitter battle over the mine has seen a succession of on-site protests, legal battles and the company's use of a private detective to covertly photograph the activists' family.At the start of 2022 and you are joining us from India, there is a New Year's resolution that we would like you to consider. Tens of millions of people have trusted the fearless journalism of The Guardian since we began publishing 200 years ago, reaching out to us in times of crisis, uncertainty, solidarity and hope. We would like to invite you to join the over 1.5 million supporters, from 180 countries, who today feed us financially, keep us inclusive and fiercely independent. Unlike many others, the Guardian has no shareholders nor billionaire owners. Only the determination and passion to deliver high-impact global reports, always free from commercial or political influences. Reporting like this is vital for democracy, for fairness and for demanding better from the powerful. And we provide it all for free for everyone to read. We do this because we believe in equality of information. More people can follow the global events shaping our world, understand their impact on people and communities, and be inspired to take meaningful action.Millions of dollars can benefit from open quality access, truthful, whatever their ability to pay.
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