Question
Which Indian company has recently announced its
ambitious target to invest $70 billion by 2030 in green energy, including green hydrogen?Solution
Adani Enterprises (AEL), will use the proceeds from its follow-on public offering (FPO) to invest Rs 11,000 crore in capital expenditure towards the green hydrogen and airport projects and another Rs 4,100 crore in retiring debt of road, airport, and solar projects. The company is setting up a fully integrated green hydrogen ecosystem to enable access to low-cost renewable power, produce low-cost green hydrogen at scale, and manufacture downstream products. The group had announced its ambitious target to invest $70 billion by 2030 in green energy, including green hydrogen. Learn Along: Adani Enterprises Headquarters: Ahmedabad                  President & CEO: Vinay Prakash A follow-on offering (FPO) is when a public company issues more shares after their initial public offering (IPO). It happens when the company wants to raise more capital by giving out additional shares to finance projects, pay their debt, or make acquisitions.
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