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Adani and Total have entered into an agreement to create a green hydrogen ecosystem

Joint Venture between Adani Enterprises and TotalEnergies

Adani Enterprises has formed a joint venture with TotalEnergies, a French multi-energy firm, in which TotalEnergies will acquire a 25% stake in Adani New Industries Ltd (ANIL), which would focus on green hydrogen production. LNG terminals, gas utility businesses, renewable energy businesses, and green hydrogen manufacturing are all part of the new agreement between the two sides.

Adani will provide its strong understanding of the Indian market, speed of execution, operational efficiency, and capital management philosophy to this cooperation centred on green hydrogen. When it comes to lowering financing costs, TotalEnergies will use its extensive knowledge of the worldwide market as well as its financial heft to help.

Adani Enterprises

For the creation of the largest green hydrogen ecosystem in the world, Adani has teamed up with the French energy supermajor TotalEnergies. This was announced in a press release issued by Adani Enterprises on Tuesday. 

India and the world’s energy landscape are projected to be transformed by the new cooperation centred on green hydrogen. As pioneers in the energy transformation and adoption of clean energy, both Adani and TotalEnergies have a strong public ESG commitment with this collaborative energy platform.

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As announced by Adani’s main company, Adani New Industries plans to invest more than $50 billion in green hydrogen and related ecosystems over the next 10 years. A million metric tonnes of green hydrogen production capacity will be developed by the Adani unit in the first phase before 2030, the company says further.

According to Adani Enterprises, “the complementary qualities of the partners will enable ANIL to create the world’s largest green hydrogen ecosystem, which will in turn, deliver the lowest cost of green hydrogen to the customer and aid in accelerating the global energy transition.”

Conclusion

After Reliance Industries, with Mukesh Ambani at the helm, revealed similar plans, Gautam Adani-led Adani Enterprises launched Adani New Industries as a wholly-owned subsidiary in January this year. Green hydrogen, wind turbines, solar modules, and batteries are among the low-carbon energy components that will be made cheaper by the new business.

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