Adani Group has entered into a partnership with TotalEnergies of France to jointly develop the green hydrogen ecosystem with an investment of USD 50bn over the next 10 years, the two companies said in a joint statement.
The joint venture, namely Adani New Industries Ltd (ANIL), will have TotalEnergies as a minority stakeholder with 25% interest. ANIL will develop a green hydrogen production capacity of 1 million ton per annum before 2030.
Gautam Adani, Chairman of Adani Group, said that the partnership is a part of the group’s ambition to be the “largest green hydrogen player in the world.”
ANIL will invest over USD 50bn over the next 10 years in green hydrogen and the associated ecosystem. In the initial phase, the joint venture will develop a green hydrogen production capacity of 1 million ton per annum before 2030. For a country that relies on coal for more than 70% of its electricity, Adani’s efforts are important in India’s shift away from coal power.
ANIL aims to be the largest fully integrated green hydrogen player in the world, with a presence across the entire value chain, from the manufacturing of renewables and green hydrogen equipment (solar panels, wind turbines, electrolysers, etc.), to the large-scale generation of green hydrogen, to downstream facilities producing green hydrogen derivatives, the statement said.