Sagar Adani Highlights UAE's Potential OPEC Exit as Beneficial for India

Adani's Insights on Energy and Economic Resilience

Sagar Adani, Executive Director of Adani Green Energy, expressed on Wednesday that any potential move by the UAE to exit OPEC or OPEC+ could be entirely advantageous for India. Speaking at 'The Economist Impact Resilient Futures Summit' in New Delhi, he emphasized the crucial role of energy in bolstering economic strength. Adani noted that the global implications of such a decision remain uncertain, stating that only time will reveal whether it will disrupt or stabilize the global energy markets. He also mentioned that India's robust geopolitical ties with the UAE could work in its favor.

Focusing on India's energy challenges, Adani remarked that in today's world, the definition of resilience is increasingly determined by access to reliable and affordable energy. He pointed out that in this century, energy access will define resilience, highlighting how disruptions from conflicts to market shocks can have long-lasting effects on all economies. He noted that per capita energy consumption in India is significantly lower than the global average and stressed the need for infrastructural expansion in energy capacity. According to him, to meet growth targets while ensuring efficiency and stability, India may need to add approximately 2,000 gigawatts of energy capacity over the next two decades.

Adani advocated for a diversified 'portfolio approach' to energy, which would integrate renewable, hydro, thermal, and nuclear sources to ensure stable baseload power. He also emphasized the importance of reducing reliance on imported energy and enhancing electrification to strengthen long-term economic stability. Referring to the role of the Adani Group, he stated that the group is investing in renewable energy, storage, transition, and green hydrogen as part of an integrated strategy to build India's energy backbone. He further noted that the continuity of policies and infrastructure development over the past decade has created a favorable environment for increasing energy investments, which will be crucial for maintaining India's growth and resilience.