Gautam Adani, India's second richest person and chairman of the Adani Group, met the Australian High Commissioner to India, Philip Green, to discuss the company’s current investments in Australia and future potential collaborations.

What Happened: The meeting, which took place in Gandhinagar, Gujarat, on Friday, involved discussions on the Adani Group’s current investments in Australia and potential future collaborations in the areas of renewables, critical minerals, and rooftop solar.

Green, in a social media post, shared a photo of the meeting with Adani, highlighting the potential areas of collaboration.

The meeting also included a discussion on the prospects of collaboration between Australia, India, and Gujarat on renewable energy, rooftop solar, and critical minerals like lithium.

Adani Group subsidiary, Adani Australia, provides energy solutions in Australia and the Asia Pacific region from thermal and renewable energy sources.

The company operates the Abbot Point Terminal, a coal port in North Queensland, and the Rugby Run solar farm near Moranbah.

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Adani Mining Pty Ltd. operates the Carmichael mine and rail project, a thermal coal mine and rail project located in the Galilee Basin, which will transport coal to countries in Asia, including India.

Why It Matters: The Adani Group has been a subject of significant attention in recent years. In 2018, thousands of protestors across Australia demonstrated against the controversial Carmichael coal mine.

The mine has been a source of controversy due to its potential environmental impact and has also faced financial scrutiny, with European ESG-based funds beginning to pull out investments in 2023.

However, despite these challenges, the Adani Group has seen a potential turnaround, with US-based GQG Partners indicating a likely expansion of its investment in the conglomerate.

These recent discussions with the Australian envoy could signal a potential shift in the Adani Group’s focus towards renewable energy and critical minerals, aligning with global trends and potentially diversifying its portfolio.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Flickr