Adani Group denies reports of alliance with China's BYD, says no talks have taken place

Adani Group on Monday clarified that it is not seeking any tie-up with Chinese firms like BYD for manufacturing batteries and clean energy technology. In a notice provided to the stock exchange, the group flagship firm Adani Enterprises Limited stated that the reports of tie-up with Chinese firms BYD and Beijing Weilian New Energy Technology are incorrect.

Adani Group said, "Adani Group is not exploring any possibility of collaboration with BYD for battery manufacturing in India. Similarly, we are not in any discussion for any kind of partnership with Beijing Weilian New Energy Technology."

Reports claimed that group chairman Gautam Adani was "personally leading discussions" with BYD executives to make batteries in India and further its efforts in the clean energy space. The group has a vast portfolio of clean energy - ranging from solar module manufacturing to wind power equipment and green hydrogen.

The group said it is expanding its solar module manufacturing to 10 gigawatts (GW) per annum and almost doubling its wind turbine manufacturing capacity to 5 GW per annum. It is also considering setting up a facility to manufacture electrolysers used in making green hydrogen.