Adani New Industries
Adani New Industries Limited (ANIL) is the Adani Group's renewable energy manufacturing subsidiary, producing solar modules (integrated polysilicon-to-module), wind turbine blades (India's longest at 91.2 metres), and green hydrogen for utilities, independent power producers, and industrial off-takers in India and select export markets.
- Company typePrivate
- Founded2023
- HeadquartersAhmedabad, India
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Adani New Industries does
Adani New Industries Limited (ANIL) is the renewable energy manufacturing arm of the Adani Group, established in 2023 as a wholly-owned subsidiary of Adani Enterprises Limited and headquartered in Ahmedabad, Gujarat. The company operates an integrated renewable energy manufacturing platform spanning three verticals: solar modules (Adani Solar brand), wind turbine components including India's longest onshore blades at 91.2 metres, and green hydrogen production. Its flagship Mundra facility in Gujarat operates 2 GW ingot/wafer, 4 GW solar cell, and 4 GW solar module capacity, with a planned 10 GW fully integrated (polysilicon-to-module) scale-up, while a 5 MW off-grid green hydrogen pilot plant in Kutch—India's first, powered by solar plus battery storage with a fully automated closed-loop electrolyzer system—serves as proof of concept for a larger Mundra-based Green Hydrogen Hub targeting up to 3 million metric tonnes annually.
ANIL serves three primary customer segments: utilities and power producers procuring solar modules for utility-scale projects supporting India's 110 GW PV target; independent power producers purchasing high-capacity wind turbines for onshore wind farm development; and industrial energy consumers procuring green hydrogen and ammonia for decarbonization. The business model is hardware sales-led via direct enterprise and field sales with quote-based pricing on large infrastructure contracts; distribution is direct-to-buyer for Indian customers and via export channels (with stated presence in Europe, Australia, Brazil, Vietnam, and the Philippines). Revenue is captured from hardware sales across solar modules, wind turbines and blades, with green hydrogen positioned as a future recurring/commodity revenue stream at scale.
The company is privately held (no standalone revenue or financials are disclosed for ANIL specifically), is backed by $394 million in trade finance from Barclays and Deutsche Bank secured in July 2023, and has committed to a planned $50 billion investment over the next decade for the green hydrogen ecosystem. It has ranked 6th globally in Wood Mackenzie's 2026 Solar PV Module Manufacturer Rankings—the highest-ranked Indian company with Grade A classification—and employs 10,000+ across the broader Adani manufacturing operations.
Adani New Industries firmographics
Firmographics- Name
- Adani New Industries
- Legal name
- Adani New Industries Limited
- Website
- https://adani.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Adani New Industries Limited (ANIL) is the Adani Group's renewable energy manufacturing subsidiary, producing solar modules (integrated polysilicon-to-module), wind turbine blades (India's longest at 91.2 metres), and green hydrogen for utilities, independent power producers, and industrial off-takers in India and select export markets.
- Ownership category
- akta.pro rank
Adani New Industries industry classification
Industry- Product category
- Renewable Energy Manufacturing
- NAICS
- Turbine and Turbine Generator Set Units Manufacturing (333611), Electric Power Generation (22111)
- SIC
- Engines & Turbines (3510), Motors & Generators (3621)
- akta.pro primary industry
- Power Electronics & Grid-Tie Equipment Manufacturing (Converters, Transformers, Switchgear) (EUAMAHAH)
- akta.pro secondary industries
- Wind Turbine OEM Manufacturing (Nacelles, Drivetrains, Generators) (EUAMAHAD), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)
Keywords
Where Adani New Industries is headquartered
LocationHeadquarters
- HQ city
- Ahmedabad
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
Adani New Industries business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations
Revenue model
- Solar Module Manufacturing and Sales: Manufacturing and sale of solar modules from integrated facilities, serving utilities and power producers. Revenue from module sales and potential technology licensing
- Wind Turbine Manufacturing: Manufacturing and sale of wind turbines and components including 91.2-metre blades for next-generation above 5 MW turbines
- Green Hydrogen Production: Green hydrogen production and sales targeting 1-3 million metric tonnes annually as part of the green hydrogen ecosystem development
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Adani New Industries product offering
Product offeringCore offering
Adani New Industries Limited (ANIL) manufactures integrated renewable energy hardware including solar PV modules, wind turbine blades, and green hydrogen for utility-scale energy projects. The company operates an integrated solar manufacturing facility at Mundra producing from polysilicon to finished modules at up to 10 GW planned capacity, produces India's longest 91.2-metre onshore wind turbine blades for next-generation turbines above 5 MW, and runs India's first off-grid 5 MW green hydrogen pilot plant at Kutch with planned production scale-up to 3 million metric tonnes annually.
Product overview
Adani New Industries Limited (ANIL) operates as a diversified renewable energy manufacturing platform under Adani Enterprises. The company offers an integrated portfolio spanning solar module manufacturing (Adani Solar), wind turbine blade production (91.2-metre blades for turbines above 5 MW), and green hydrogen ecosystems. ANIL's flagship integrated solar manufacturing facility at Mundra produces from polysilicon to finished modules at 10 GW scale, while its green hydrogen initiatives aim for up to 3 million tonnes annually production capacity with a planned USD 50 billion investment over a decade.
Differentiator
Problem solved
Functional benefit
Brands
- Adani Solar: Solar manufacturing division producing polysilicon to finished modules; ranked 6th globally in Wood Mackenzie's 2026 Global Solar PV Module Manufacturer list with Grade A classification
- Adani Wind
Products and services
- Adani Solar Modules Integrated solar photovoltaic module manufacturer operating from polysilicon to finished modules at the Mundra facility (2 GW ingot/wafer capacity plus 4 GW each of solar cell and module manufacturing), serving utilities and power producers for utility-scale renewable projects supporting India's 110 GW PV capacity target.
- Adani Wind Turbine Blades Onshore wind turbine blade manufacturing division producing India's longest 91.2-metre blades for next-generation above 5 MW capacity turbines, with manufacturing capacity scaling from 2.25 GW to 5 GW per annum, targeting a longer-term 10 GW ambition.
- Green Hydrogen (Off-Grid 5 MW Pilot Plant and Ecosystem) Green hydrogen production including India's first off-grid 5 MW pilot plant at Kutch (solar-powered with battery storage and closed-loop electrolyzer), serving as proof of concept for the planned larger Green Hydrogen Hub at Mundra targeting up to 3 million metric tonnes annually, with a USD 50 billion planned investment over the next decade.
Quantifiable outcome
- Ranked 6th globally in Wood Mackenzie's 2026 Module Manufacturer list, highest-ranked Indian company with Grade A classification
- +2 more outcomes
Companies that use Adani New Industries
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Adani New Industries technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Adani New Industries partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Kowa Holdings Asia Pte LtdcoreAdani Global Pte Ltd (step-down subsidiary of Adani Enterprises) formed 50:50 joint venture with Kowa Holdings Asia for sales and marketing of green hydrogen, green ammonia, and derivatives in Japan, Taiwan, and Hawaii. The JV will market products manufactured by ANIL with first green hydrogen project of 1 MMTPA being implemented in Gujarat with planned expansion to 3 MMTPA.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Adani New Industries competitors and assessment
Company assessmentDirect peers
- Suzlon Energy: India's largest wind turbine OEM, directly competing with ANIL's Adani Wind division in the domestic wind turbine market. Both target above-3MW onshore platforms and Indian IPPs/CPSUs for utility-scale wind farm development.
- Waaree Energies: One of India's largest solar PV module manufacturers and an ALMM-listed domestic supplier, competing head-to-head with Adani Solar in module tenders for India's utility-scale solar projects and rooftop segments.
- Inox Wind: Indian wind turbine OEM competing with Adani Wind in the domestic above-3MW wind turbine segment, supplying IPPs and captive industrial customers across low and medium wind sites in India.
- Tata Power Solar Systems: Tata Group's solar manufacturing and EPC arm, directly competing with Adani Solar in domestic module supply and integrated solar project development for utility and C&I customers in India.
- First Solar: Global top-10 solar PV module manufacturer competing directly with Adani Solar in international utility-scale project supply, particularly in markets prioritizing CdTe thin-film or low-carbon manufacturing footprints.
- Trina Solar: Top-3 global crystalline silicon module manufacturer with vertically integrated polysilicon-to-module operations, competing with ANIL in module supply for utility-scale projects and tracking dual-glass/n-type technology leadership.
- JinkoSolar: Top-3 global solar PV module manufacturer and vertically integrated player competing with ANIL on N-type TOPCon technology, module cost leadership, and global utility-scale project supply.
Emerging players
- Reliance New Energy / Reliance Industries: Diversified conglomerate building a green hydrogen and renewable manufacturing platform through Reliance New Energy, with announced investments in electrolyzers, fuel cells, and solar — competing with ANIL across all three verticals in India.
- ACME Group: Indian green hydrogen and renewable energy developer with planned electrolyzer manufacturing and project pipeline in India, competing with ANIL for green hydrogen offtake customers and policy-driven incentives under India's National Green Hydrogen Mission.
Broad incumbents
- Vestas Wind Systems: Global #1 wind turbine OEM with broad onshore and offshore platform portfolio, competing with Adani Wind as ANIL attempts to scale above-5MW onshore platforms and enter export markets in Europe, Australia, and Latin America.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Adani New Industries social profiles
Digital presenceAdani New Industries financial estimates
Financial estimateRevenue estimate
Valuation estimate
Adani New Industries leadership team
Management profileNumber of profiles
Profiles1 record
Adani New Industries funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Adani New Industries M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Adani New Industries
What does Adani New Industries do?
Adani New Industries Limited (ANIL) manufactures integrated renewable energy hardware including solar PV modules, wind turbine blades, and green hydrogen for utility-scale energy projects. The company operates an integrated solar manufacturing facility at Mundra producing from polysilicon to finished modules at up to 10 GW planned capacity, produces India's longest 91.2-metre onshore wind turbine blades for next-generation turbines above 5 MW, and runs India's first off-grid 5 MW green hydrogen pilot plant at Kutch with planned production scale-up to 3 million metric tonnes annually.
Is Adani New Industries a public or private company?
Adani New Industries is a private company. It is classified as corporate owned and is currently operating.
When was Adani New Industries founded?
Adani New Industries was founded in 2023. It employs 5,001 to 10,000 people.
Where is Adani New Industries based?
Adani New Industries is headquartered in Ahmedabad, India, in the Asia region.
How does Adani New Industries make money?
Three revenue lines are on record. Solar Module Manufacturing and Sales are the primary driver. The others are wind Turbine Manufacturing and green Hydrogen Production.
Who are Adani New Industries's main competitors?
Direct peers on record are Suzlon Energy, Waaree Energies, Inox Wind, Tata Power Solar Systems, First Solar, Trina Solar and JinkoSolar. Emerging players are Reliance New Energy / Reliance Industries and ACME Group. Vestas Wind Systems is listed as a broad incumbent.
Does Adani New Industries have an API?
No public API is recorded for Adani New Industries.
What industry is Adani New Industries in?
Adani New Industries's product category is Renewable Energy Manufacturing. Its primary akta.pro industry code is EUAMAHAH, Power Electronics & Grid-Tie Equipment Manufacturing (Converters, Transformers, Switchgear), with a secondary code of EUAMAHAD, Wind Turbine OEM Manufacturing (Nacelles, Drivetrains, Generators). Its NAICS code is 333611 and its SIC code is 3510.