Adani Group is leveraging on the following success stories for its PPP Ventures in Kenya
One of India’s largest multinational conglomerates, the Adani Group, is aggressively establishing a global presence through public-private partnership projects in all avenues. Toppled as it looks to boost infrastructure and energy sectors, Kenya is turning into one of its prime concentration spots.
Informed by several high-profile projects overseas, the group says it has experience in bringing innovation, investment, and expertise to the region. This is despite the controversy surrounding it in Kenya
The following are two major global success stories that have set a platform for Adani Group’s PPP initiatives in Kenya.
- $444 million investment from TotalEnergies
In April 2020, Total and AGEL, a renewable energy subsidiary of Adani Group, got into a joint venture in which the latter brought on board a portfolio of 2.1GW of solar power plants.
The deal saw Total and AGEL agree to expand the portfolio from 2.1 to 2.3GW through new solar farms as they seek to transition towards cleaner energy and sustainable infrastructure.
TotalEnergies, which has committed to increasing its share of renewable energy in its portfolio, sees India as a key market for clean energy expansion. Through the stake in Adani’s renewable ventures, the Indian market opportunity is enormous: for one of the fastest-growing clean energy markets globally and, in turn, Adani gains from the expertise, global network, and capital resources.
- Adani Sri Lanka Port Terminal Project
In November 2023, US International Development Finance Corporation (DFC} pumped $553 million into the Port of Colombo deep-water shipping container terminal joint venture done by a consortium led by Adani Ports.
The consortium of Adani Ports, John Keells Holdings and Sri Lanka Ports Authority (SLPA) set up the Colombo West International Terminal Pvt Ltd to execute the Build-Operate-Transfer project over 35 years.
Adani Ports holds 51 per cent stake, Sri Lanka conglomerate John Keells Holdings 34 per cent and the remaining 15 per cent is held by SLPA in the project set to be finished in 2025.
Adani Group says these among other global success stories prove that the it can implement infrastructure, energy, and technology projects at scale through PPP models.
Drawing upon the experience of projects already executed in India, as well as in Australia and beyond, Adani says it has the capability to positively impact the economic development and infrastructure upliftment in Kenya. It adds these success stories briefly describe the potential impact of its PPP initiatives in Kenya on energy, ports, and water management to digital infrastructure.
‘’Kenya’s strategic location and its need for advanced infrastructure create fertile ground for the Adani Group to expand its global presence while knitting long-term partnerships that will benefit both the company and the Kenyan economy.’’ it says.
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