Adani sells a fourth of its green hydrogen business to France’s TotalEnergies
- France-based energy major
TotalEnergiestoday acquired a 25% interest in AdaniNew Industries Limited (ANIL).
- The duo plan to form this strategic alliance to create the world's largest
- Adani New Industries plans to invest $50 billion in green hydrogen projects and associated ecosystems in the next decade.
AdvertisementFrance-based energy major TotalEnergies today acquired a 25% interest in Adani New Industries Limited (ANIL) in an attempt to create the world's largest green hydrogen ecosystem.
Adani New Industries — which looks after Adani Groups green hydrogen projects, wind turbines and solar modules batteries — plans to invest $50 billion in green hydrogen projects and associated ecosystems in the next decade.
“The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level… In our journey to become the largest green hydrogen player in the world, the partnership with TotalEnergies adds several dimensions that include R&D, market reach and an understanding of the end consumer,” Gautam Adani, chairperson of
It aims to develop a production capacity of one million ton per annum before 2030.
“This move 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 Pouyanné, Chairperson and CEO of TotalEnergies, said.
The new partnership — which was announced on Tuesday (June 14) — is centered on green hydrogen and expects to transform the energy landscape both in India and globally. This joint energy platform further strengthens the public environmental, social and governance (ESG) commitments made by both companies.
A market ready to ‘take off’
Adani also noted that the partnership with TotalEnergies would allow the company to shape market demand and this is why the deal holds “such great value”.
“TotalEnergies’ entry into ANIL is a major milestone in implementing our renewable and low carbon hydrogen strategy, where we want to not only decarbonize the hydrogen used in our European refineries by 2030, but also pioneer the mass production of green hydrogen to meet demand, as the market will take off by the end of this decade,” said Pouyanné of TotalEnergies.
Large companies like Reliance Industries too have been working towards harnessing green hydrogen in India after the government rolled out its policy. The policy intends to use renewable sources to produce Hydrogen, and aids the development of battery and storage systems – to transform the energy landscape in India.
AdvertisementIndianOil, Larsen and Toubro and ReNew Power too forged an alliance to harness green hydrogen. Apart from reducing carbon emissions within the country, India also intends to become a green hydrogen exporter in the future.
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