Adani Group plans an annual capital expenditure of $15–20 billion over the next five years, chairman Gautam Adani said in a virtual address on Tuesday.

Adani was addressing the annual general meeting (AGM) of Adani Enterprise Ltd  in his first appearance before shareholders since the US Department of Justice indicted him in November.

“These are not just investments in our Group, but investments in the possibilities for doing our part to build India’s infrastructure,” he told shareholders.

In his address, Adani reiterated that no one from the Adani Group has been charged with violating the US Foreign Corrupt Practices Act (FCPA).

“Despite all the noise, the facts are that no one from the Adani Group has been charged with violating the FCPA or conspiring to obstruct justice,” Adani said.

The US Justice Department had charged Adani with orchestrating a more than $250 million bribery scheme that involved paying or promising to pay off Indian government officials to land lucrative solar-energy supply contracts.

The conglomerate denied Adani or his aides tried to bribe Indian government officials to win contracts for Adani Green Energy Ltd.

In the virtual address, Adani said a new airport will begin operations in a Mumbai suburb later this year. The group will also get a 10 gigawatt (GW) integrated solar module plant operational by next fiscal, while targeting 100 GW of capacity across thermal and renewable energy by 2030, he said.

Adani raises $1 billion to upgrade Mumbai airport

The deal is structured with $750 million in bonds maturing in July 2029, and an option to raise an additional $250 million, totaling $1 billion, a company statement said.

The funding is India’s first investment-grade private bond issuance in the airport infrastructure sector.

The transaction was led by Apollo-managed funds, alongside other global investors, including BlackRock and Standard Chartered, signaling strong confidence in both Mumbai’s airport operations and India’s broader infrastructure potential.

The funds will be deployed to support planned upgrades at MIAL, including improving capacity, modernizing facilities, and integrating digital technologies, Adani said.

The financing will also boost efforts toward the airport’s goal of reaching net-zero emissions by 2029

The latest bond follows a recent $750 million loan AAHL received from a consortium of global banks, bringing its total external financing this year to $1.75 billion

In fiscal 2025, Adani’s airports handled about 94 million passengers, and the network aims to triple its annual capacity to 300 million by 2040.

“Our ability to secure one of the largest private investment-grade project finance issuances demonstrates our commitment to financial discipline, capital efficiency and long-term value creation,” Arun Bansal, CEO, Adani Airports Holdings Ltd, said.

With eight airports already under its management, including major hubs like Ahmedabad, Lucknow, Jaipur, and Thiruvananthapuram, Adani is positioning MIAL as the centerpiece of its airport ecosystem.