Adani New Industries Ltd (ANIL) will invest $50 billion to create the world’s largest green hydrogen ecosystem in partnership with TotalEnergies – marking India’s largest company commitment to green hydrogen.
Under the partnership, TotalEnergies will acquire 25 per cent minority interest in ANIL from Adani Enterprises Ltd (AEL).
The companies agreed to focus on green hydrogen as a new solution to transform the energy landscape both in India and globally.
ANIL has committed to invest over $50 billion over the next 10 years to foster green hydrogen production and associated ecosystems. During the initial phase, the company aims to achieve a production capacity of 1 million tonnes per annum before 2030.
“The strategic value of the Adani-TotalEnergies relationship is immense at both the business level and the ambition level,” said Gautam Adani, Chairman, Adani Group.
“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. This fundamentally allows us to shape market demand.”
According to their recent statement, Adani’s firm will contribute with its deep knowledge of the Indian market, while TotalEnergies will bring its expertise in the global and European market to deliver the lowest cost of green hydrogen to the consumer and help accelerate the global energy transition.
The INR 15,400 Cr ($2 billion) primary equity transaction is for three Adani Portfolio companies which aim to generate 9 per cent of India’s non-fossil energy capacity by 2030.