Adani, TotalEnergies to develop largest green hydrogen ecosystem
Adani New Industries plan to invest over US$50b in the next ten years.
India’s Adani has partnered with TotalEnergies of france to develop the largest green hydrogen ecosystem in India and across the globe.
Through the partnership, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd. (AEL).
“The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” Gautam Adani, Chairman, Adani Group, said.
“The partnership with TotalEnergies adds several dimensions that include R&D, market reach and an understanding of the end consumer. This fundamentally allows us to shape market demand.”
Adani noted that ANIL has a plan to invest some US$50b in green hydrogen in the next ten years with a target to develop a green hydrogen production capacity of 1 million tonne per annum before 2030.
“This future production capacity of 1 million ton per annum of green hydrogen will be a major step in increasing TotalEnergies' share of new decarbonized molecules including biofuels, biogas, hydrogen, and e-fuels to 25% of its energy production and sales by 2050,” Patrick Pouyanne, Chairman and CEO of TotalEnergies, said.